I get paid every 4 weeks meaning I have 13 pay days a year. My iva is worked out on 12 annual repayments (presumeably all 12 payments increased to make up for the extra pay day). Am i right in presuming that in the month i get paid twice i dont only have to hand over anything extra.
Yes, that's usually the case! Just check your payment schedule to make sure, and if you're ever struggling on a normal month, have a chat with your IP to see if you can make payments 4-weekly.
I think it is all averaged out and the payments take this into account so you should be ok.
One of the experts should be along to advise later.
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
My hubby gets paid every 2 weeks and his payment is worked out as 12 payments each year. In the month you get 2 payments you will be playing catchup with the months you have payed that bit more.
I also get paid ever 4 weeks, I checked with my IP and all bills etc are worked over a 12 months so the extra month is yours, like the 2 months of council tax that you don't pay in feb and march that is also worked out over 12 payments
