10% rule

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Leese

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Post by Leese » Tue Aug 03, 2010 10:13 am
I received a bonus this month and thought I'd be able to keep the first 10% before handing over 50%. Unfortunately it wasn't the case as Blair Endersby don't use this rule, they take a straight 50% and that's what is in the proposal. Another reason why I wished I'd found this forum before I entered into an IVA. So far that's £635 out of pocket. £560 of it being the Baines & Ernst intro fee. Just venting... :(
Last edited by Leese on Tue Aug 03, 2010 10:26 am, edited 1 time in total.
 
 

MrsKnight

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Post by MrsKnight » Tue Aug 03, 2010 10:25 am
Hi Leese,
I do understand how you feel, Im with BE n have the 50% rule too & paid out money to be handed from BE to BE, which is just wrong really as they are sister companies.
But we have got used to handing over the little amounts we get now in over time & I always feel better for doing so. Plus the 50% that you get to keep comes in handy.
I love this forum n also regretted not finding it first! But its an amazing support to me now.
Final IVA payment made in April 2013, never ever thought we could do it or get through it but we did! X



An IVA.co.uk Mentor is someone sharing from their experiences of dealing with debt

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Leese

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Post by Leese » Tue Aug 03, 2010 11:19 am
Hi MrsK,

You're right I should look more on the positive side of things..I guess I'm really just angry at myself more than anything for not doing my homework. lol.
 
 

Blair Endersby

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Post by Blair Endersby » Tue Aug 03, 2010 12:06 pm
Hi Leese

Please forward your customer reference, and contact details, to the below email address, and I will review your file.

Kind regards

Blair Endersby
 
 

Leese

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Post by Leese » Tue Aug 03, 2010 1:04 pm
I don't think it needs reviewing. I've paid over the 50% which is correct according to the proposal. I was really just letting people know that they should do some research before they enter in to an IVA and check which IP's use the different rules that are allowed.
 
 

Pandy

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Post by Pandy » Tue Aug 03, 2010 5:56 pm
Hi Leese, I am with BE and have to 10% 50%/50% rule , I think it depends on what your creditors agree to.
Last edited by Pandy on Tue Aug 03, 2010 5:56 pm, edited 1 time in total.
If life is what you make it, I must have been in a strange mood when I made mine
 
 

Skippy

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Post by Skippy » Tue Aug 03, 2010 5:57 pm
It also depends on whether your IVA is protocol compliant as older IVAs had a straight 50/50 split.
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