Small bonus payments.......................

11 posts Page 1 of 1
 
 

marie

User avatar
Posts: 104
Joined: Wed May 16, 2007 9:35 pm
Location:

Post by marie » Sun May 27, 2007 10:48 am
Hi All........
I will have two small bonus payments in my pay.One in july £100 , and one in November £150 ,will i have to put 50% of these into my iva payments ??
All though i'm just in the process of sorting out my iva (proposals signed )i'd just like to know ......

Marie
36 down 24 to gooooooo
 
 

keh

User avatar
Posts: 186
Joined: Fri May 25, 2007 10:04 pm
Location: United Kingdom

Post by keh » Sun May 27, 2007 10:56 am
Hi Marie,

Not being an expert about this only give you my opinion on what to do....

i would ask your IP on what is the best

personally though i would put the £100 into the iva and use the £150 for christmas as you need the money more at that time of the year.

Anyone out there who agree with me?

Keith



The long and winding road will straighten out eventually....keep the faith
Keith

The long and winding road will straighten out eventually....keep the faith
 
 

olympic_torch

User avatar
Posts: 1307
Joined: Mon Jan 08, 2007 12:59 am
Location:

Post by olympic_torch » Sun May 27, 2007 5:12 pm
i am about to receive a bonus of approx £200.
i have checked with my ip (grant thornton), who have said they will only need to be notified of amounts exceeding £500.
so its mine, all mine !

Aucto Splendore Resurgo.
(1 down, 59 to go)
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
 
 

Adam Davies

User avatar
Posts: 14596
Joined: Thu Mar 29, 2007 12:21 pm
Location:

Post by Adam Davies » Sun May 27, 2007 6:24 pm
Marie
Only your IP will be able to tell you the answer to this once your IVA is approved.As Olympic states some IVAs allow you to keep the first £500 of any bonus/windfall,others 50 percent and some zero.Try to train yourself to think that you will have to pay these over and then you may get a nice surprise !!!
Regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp
Andam Davies
 
 

tracy.h

User avatar
Posts: 672
Joined: Wed Mar 14, 2007 11:20 am
Location:

Post by tracy.h » Sun May 27, 2007 6:28 pm
I hope Mr Torch you meen yours and Mrs Torches as you know when you have a wife there is no such word as mine.[only jokeing] glad you have got some readies to spoil yourselves with,you deserve it.

Tracy
 
 

olympic_torch

User avatar
Posts: 1307
Joined: Mon Jan 08, 2007 12:59 am
Location:

Post by olympic_torch » Sun May 27, 2007 10:38 pm
tracey.h
silly me, what was i thinking, of course i meant ours.
there was me hoping i could get away with paying it into my spearmint rhino account. pah !.

woohoo 100th post !!!

Aucto Splendore Resurgo.
(1 down, 59 to go)
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
 
 

tracy.h

User avatar
Posts: 672
Joined: Wed Mar 14, 2007 11:20 am
Location:

Post by tracy.h » Sun May 27, 2007 11:08 pm
Well Mr Torch i used to work there [reckon] maybe as a bouncer.
 
 

olympic_torch

User avatar
Posts: 1307
Joined: Mon Jan 08, 2007 12:59 am
Location:

Post by olympic_torch » Sun May 27, 2007 11:15 pm
thats odd, i used to work there too,
helping the girls to change into their costumes.
£50 a week.
its not much, but it was all i could afford to pay !!.


Aucto Splendore Resurgo.
(1 down, 59 to go)
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
 
 

tracy.h

User avatar
Posts: 672
Joined: Wed Mar 14, 2007 11:20 am
Location:

Post by tracy.h » Sun May 27, 2007 11:20 pm
That bonus wont be going far then?
 
 

olympic_torch

User avatar
Posts: 1307
Joined: Mon Jan 08, 2007 12:59 am
Location:

Post by olympic_torch » Sun May 27, 2007 11:31 pm
i shall probably spoil mrs torch.
she deserves it for putting up with me.

Aucto Splendore Resurgo.
(1 down, 59 to go)
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
 
 

iva_squirrel

User avatar
Posts: 647
Joined: Mon Apr 17, 2006 10:32 am
Location: United Kingdom

Post by iva_squirrel » Mon May 28, 2007 3:57 pm
Hello,


Your IVA will contain a 'windfall' clause, meaning any assets such as lottery winnings, bonus payments, gifts or inheritance have to be declared to the Insolvency Practitioner and paid into the IVA for the benefit of the creditors. As Andy rightly says some IVAs allow you to keep the first £500 of any bonus,others 50 percent and some zero.

Kind regards,


Julia



For more information about IVAs, please visit my website:
www.supersonicsquirrel.net
11 posts Page 1 of 1
Return to “IVA postbag for may”