OVERTIME

Please can people also enter this information here:
http://www.iva.co.uk/creditor_voting_list.asp

With enough information we hope to provide a guide on creditor voting patterns - useful to help figure out if IVA is likely to go through!
7 posts Page 1 of 1
 
 

Random Lady

User avatar
Posts: 277
Joined: Thu Oct 14, 2010 11:16 pm
Location: United Kingdom

Post by Random Lady » Sat Oct 23, 2010 12:04 pm
Hi - we have a clause in our IVA that states we have to pay 50% of any overtime into the IVA. My husband works a rolling shift pattern inclusive of weekends and Bank Holidays. This is contractual and he does receive enhanced pay for it, although it doesn't happen that frequenty. On his payslip, however, the payment shows as overtime. My question is, as this is a contractual payment should we have to contribute 50% into the IVA? Any ideas please?[:)]
F&F approved May 13 - just awaiting Completion Certificate - moving to a new Debt Free life !!
 
 

Shining

User avatar
Posts: 27023
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Sat Oct 23, 2010 12:07 pm
Hi, when you I&E was set was this factored in? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Random Lady

User avatar
Posts: 277
Joined: Thu Oct 14, 2010 11:16 pm
Location: United Kingdom

Post by Random Lady » Sat Oct 23, 2010 12:20 pm
Hi
No the basic salary was taken into account at that point due to the way the shift pattern changes. The shift pattern chanes on a 4 on 4 off basis, so if this week he worked Mon - Thurs, next week it moves on a day and he would work Tues - Friday. After 3 shifts he gets ten days off but when he goes back he repeats the last shift pattern he did - so confusing! So at the time we did the I&E, we couldn't factor it in as we didn't know what he would be working for the next year?
F&F approved May 13 - just awaiting Completion Certificate - moving to a new Debt Free life !!
 
 

Shining

User avatar
Posts: 27023
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Sat Oct 23, 2010 12:55 pm
I would talk with your IP and hopefully it will become clear it would be nice to have a little bit extra now and then I'm sure.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Random Lady

User avatar
Posts: 277
Joined: Thu Oct 14, 2010 11:16 pm
Location: United Kingdom

Post by Random Lady » Sun Oct 24, 2010 12:33 pm
Any other comments regarding this query please? I don't see how it could be factored in as it is so infrequent but I don't want any nasty shocks!!
F&F approved May 13 - just awaiting Completion Certificate - moving to a new Debt Free life !!
 
 

leaKybrain

User avatar
Posts: 1102
Joined: Tue Apr 01, 2008 10:12 pm
Location: United Kingdom

Post by leaKybrain » Sun Oct 24, 2010 1:41 pm
Rl it may be that as it happens you pay over the percentage at the time it happens. You won't know what that it until the month it happens. I really would talk to your IP as they will have a much better answer as yours is individual to you and our answers can only go on what we know of our circumstances.
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Sun Oct 24, 2010 11:55 pm
If it is additional income earned, that was not declared in the IVA proposal, then there are probably good grounds for claiming an uplift from you. The exact terms ought to be included in the IVA documents, but if in any doubt check this out with your own IP.
Regards, Melanie Giles, Insolvency Practitioner
7 posts Page 1 of 1
Return to “collating information about creditor voting”