hi viki.w
ive written about it on the post about "why banks " from earlier today am about 10th reply on it heres the link http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=16313
so don't want to bore people on this post as its a bit of a rant and moan and triggered a lot of problems for us resulting in us going for an iva which i am happy in a way for but not with regards that bank iykwim
elldina
have phoned ip
the modifiactions saying 50/50 split are based on current monies
when /if i get a job they will look at new i and e
after new i and e they will then work out surplus income and it could be more than 50% depending on i and e so basically if my expenditure is only £100 extra rest will go to creditors so pretty demoralising not 50/50 split as i read but they couldnt give me a yes no answer and had to push as my figures were not actual figures
elldina
That does seem fair Elldina, it would be regular wages, not bonuses or overtime so they would need to work out how much disposable income you would be getting and what increased expenditure you have.
On the plus side, it would mean that you can pay back more to your creditors.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
i would be paying in full to creditors plus ip fees and maybe the full 8% interest based on the figures i have yes i want to pay as much back as possible but its the thought of working unsociable hrs weekends nights etc and not having a single penny more and losing time with my children and hubby for 51 mths and not being able to give my children a little pocket money or a treat as a reward for being good as the budget will not move even though i will not be home for them and yes we spent the money but some charges by the bank were caused by the bank saying 1 thing and doing another sorry starting to rant
elldina
It hardly seems worth it Elldina - and I feel that your IP is being harsh. Why not ask them to call a meeting of creditors to offer 50% of any income you get from a second job, on the basis that you need some incentive to work longer, unsociable hours - but can I please ask you to consider the effect this may have on your family, who I am sure would rather see more of you and less treats. A Mummy's love and time is after all priceless!
I don't think it is a second job Melanie - she's talking about going returning to work with a part time job.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
hi melanie
i don't know what to do now as on my iva proposal it said i would actively seek work after maternity leave so would i then if i didnt go for a job be breaching my agreement sorry am sat in tears not knowing what to do it makes me not want to do anything about work but then worry if i would then break terms of agreement your suggestion about 50% will ask hubby to phone as i will probably burst into tears but its not until i actually get a job and send in i and e that they can tell me so they say as the 50/50 has no relation on my wage but it was in seperate paragraph to over time and bonuses on the modification list
sorry starting to waffle
elldina
yes its me going back to work as my husbands wage etc is paying our interlocking ivas at the moment so its a second wage comming in and not a second job
elldina
The best thing is to speak to your ip and voice your concerns and find out exactly what they would be wanting.
You can do without all this stress when you should be enjoying your time at home with your baby.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
until i get a job and have actual figures for ip they can't tell me what i would actually pay over ,or keep only that i need to do new i and e and they'd work from that
elldina
I would press on and look for the job - at least you will then be complying with creditors wishes to actively seek work. When the time arises, you can then have a sensible chat about what you would need to pay over.
thanks melanie and kallis3
i have sent out a no of applications last week so will wait and see what happens and get hubby to speak to ip when i do get a job about amounts etc as i get too emotional about it
elldina
Fingers crossed that everything works out for you Elldina.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
