Overtime payments

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ben434

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Post by ben434 » Wed Dec 04, 2019 5:55 am
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I am paying extra into my IVA for earnings i didnt pay, from my additional income (overtime)
payments before was £120
payments now are £350
as im still working some overtime to pay the extra. am i still obliged to pay half of my overtime ontop of my £350?
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Foggy

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Post by Foggy » Wed Dec 04, 2019 8:09 am
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Yes --- all overtime has to be "shared" according to the terms in your agreement.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Wed Dec 04, 2019 9:28 am
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Agree with Foggy - you are obliged to pay it across and I would do so as soon as you get it.
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
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Lisa Thomas

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Post by Lisa Thomas » Wed Dec 04, 2019 10:39 am
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Yes - I presume that the issue is unfortunately you spent the original share of overtime that was supposed to be paid over.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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Radish

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Post by Radish » Sat Dec 07, 2019 2:13 pm
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Is it still the 10/50/50 rule? Where you would keep the first 10% and split everything over?
IVA complete March 2014 after 6 years.
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kallis3

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Post by kallis3 » Sat Dec 07, 2019 4:49 pm
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Original paperwork would need to be checked as these things often change.
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
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Foggy

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Post by Foggy » Sat Dec 07, 2019 5:29 pm
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Sat Dec 07, 2019 2:13 pmRadish wrote:
Is it still the 10/50/50 rule? Where you would keep the first 10% and split everything over?
Mine was straight 50/50 -- some clauses do vary.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Radish

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Post by Radish » Sun Dec 08, 2019 8:37 am
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I never knew this, assumed everyone had the 10% clause. Not even sure if mine was 10/50/50 now - I'll dig it out later out of curiosity.
IVA complete March 2014 after 6 years.
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