www.iva.co.uk

Hi,

Just reading up on overtime etc and just wanted to ask a question. I am not in an IVA at the moment in the process! My wages every month are the same but my patner gets his basic pay plus he works 1 in 3 weekends so he gets extra money depending on how many call outs he gets etc. He also gets paid for working away. How will they take this into account when setting up my payments. Will I have to ring my IP all the time to state what he has earnt?

Thanks x

Hi Tracey, most IP's will work out what income can be earnt prior to the 50% uplift coming into effect. If the money isn't guaranteed it may be best to use his basic salary and then the uplift to deal with any extras. Has your proposed IP not informed you of how they work out his salary?

One of our professionals will be along very soon I'm sure to advise.

Is your partner going to be entering into an IVA as well?

Hi, Yes it is going to be a joint application.

Thanks.

Hi Tracey.
If the one in three weekends is in effect part of his contract and thus basic salary it will be taken into account. The additional work should not be as it is not guaranteed and he will normally keep any extra income provided his net pay does not increase by more than 10% above that listed in the proposal. Any amounts over and above this are split 50/50 with his creditors.

I work two Saturdays out of five for which I get enhanced payment, I also get a call out allowance either once or twice a month and I get a shift allowance.

All of this is counted as pay for my IVA contributions.