Can they charge the extra i have earned?

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by taylor427 » Tue May 09, 2017 9:12 am
If I earn over my yearly figure can the Iva put my payments up and charge the extra I have earned?
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Michael Peoples
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by Michael Peoples » Tue May 09, 2017 9:28 am
There are two different things here. If you earned any overtime, bonuses etc during the year then some of this money may be due to the IVA. If however you received a payrise this is dealt with at the annual review and could lead to increased payments going forward. However if you earned overtime during the year the IP cannot use this to increase the monthly payments unless you are agreed.
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by Foggy » Tue May 09, 2017 10:49 am
Good advice from Michael. These scenarios will be spelt out in your paperwork and, as said, overtime and bonus payments are treated as "one off" extra payments due, as and when and a permanent pay rise is dealt with annually at review (assuming the usual clauses).
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