Eill I lose caravan, bonuses and overtime in an iva?

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steven736
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by steven736 » Fri Jun 01, 2018 6:39 pm
would I loose my caravan and Christmas bonus,and wot about any overtime if I entered into an Iva,?
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MerlinL14
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by MerlinL14 » Fri Jun 01, 2018 7:43 pm
I doubt you will lose the caravan, unless you are making payments on it still. As for overtime and bonus' they will be covered by your IP, in most cases they are 50/50 or some other combination of fractions. You need to get the calculation in writing from which ever company you opt to go with. That will make sure there are no grey areas when some desk jockey decides that they have the last word when you make the percentage over payment.
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Foggy
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by Foggy » Sun Jun 03, 2018 10:43 am
You will lose around half of bonus payments and overtime to the IVA. What happens to the caravan depends on it's use and value --- if, for instance, it is your home, they are not going to force you to sell it. If, on the other hand it is a holiday home worth a tidy sum, they might well do.
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