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Posted: Mon May 12, 2008 11:04 pm
by skrocket
I had an IVA arrangement approved recently but with modifications. According to my original proposal, where I have extra income I pay "50% of any amount earned over my monthly salary". The modified agreement states that, where I earn over 10% extra on my salary, I pay "50% of the amount (over and above the 10%)" What do I pay?
Posted: Tue May 13, 2008 12:02 am
by MelanieGiles
Hi there and welcome to the forum
Just that - 50% of anything that you earn in excess of 110% of your usual salary. Hasn't your IP taken you through all of this as part of the interview process?
Posted: Tue May 13, 2008 12:17 am
by OPTIMIST12
That is a jolly good modification for you skrocket - until recently the 10% + 50% modification did not exist. It was a straight 50%!!!!
Many of us must abide by the earlier version. And no complaints I hasten to add!!!