www.iva.co.uk

Hi, if you were working as a recruitment consultant and on monthly commission, would you have to give 100% of the commission to the IVA? Is it classed as a windfall?

Hi
Comission will not be classed as a windfall but you may have to pay 50 percent of it into your IVA.
It will depend on how your income is taken into account ,prior to your IVA agreement ,as regular commission may form part of the income figure used for calculating your income for an IVA.
regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi Poppy,

I windfall is usually classed as money received that was not expected eg. gaining inheritance or winning the lottery etc.

I would check the terms and conditions of your IVA, as it may state that 50% of bonuses/commission should go towards the IVA. However commission like yours sounds like regular commission and should have been included in your monthly income amount.

Best Regards. IVA Experts

If you are 100% commision chances are that a regular and sustainable average of your monthly income would be used in your agreement.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp