I remember your journey last year, and really hope that you can make it this year.
Be good to meet you.
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
You should check that overtime clause with your IP - it suprises me that this was not picked up by your creditors, so I would have a look at your Chairman's Report and remind yourself of modifications which may have been put forward and agreed by you on the day of the creditors meeting.
I dont have a problem at all about handing over the 50%. Pre-IVA I was working between 55 and 60 hrs a week just to maintain the minimum payments and stay afloat. I did not see any benefit from working those sort of hours at all. Now, I keep the first 10%, and then half of the other is mine and not getting swallowed in interest. It allows me to pay almost double the monthly IVA premium and have some spare cash in the bin!
I don't get the chance to do overtime very often (about 5 days in the 7 1/2 years I've been here!) and we're given the choice of money or time in lieu. As we only get 22 days holiday a year I've always taken the time, but I wouldn't begrudge 50% if I was paid.
