What do I pay?

3 posts Page 1 of 1
Post Reply
 
 

skrocket

User avatar
Posts: 1
Joined: Mon May 12, 2008 11:04 pm
Location:
Post by skrocket » Mon May 12, 2008 11:04 pm
Quote
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?
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue May 13, 2008 12:02 am
Quote
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?
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

OPTIMIST12

User avatar
Posts: 683
Joined: Mon Aug 06, 2007 1:47 pm
Location: United Kingdom
Post by OPTIMIST12 » Tue May 13, 2008 12:17 am
Quote
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!!!
Last edited by OPTIMIST12 on Tue May 13, 2008 12:18 am, edited 1 time in total.
47 months completed - 13 months to go.
Top
Post Reply
3 posts Page 1 of 1
Return to “postings for may”