Would the under amount counteract the over amount ?

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addbridge

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Post by addbridge » Tue Sep 07, 2010 7:16 am
Hi my husbands wage is given at £523 per week in our iva but alot of the time it is under that amount by maybe roughly £50 and sometimes roughly £50 over that amount would the under amount conteract the over amount and not have to pay in the extra Hope that makes sense
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Shining

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Post by Shining » Tue Sep 07, 2010 7:33 am
I can see what you're saying as my hubby earns various amounts paid weekly depending on hours worked. Our IVA is calculated by our IP at x amount and anything above that he pays into the IVA, they did the calculations for us, would yours do the same for you?

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carole2662

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Post by carole2662 » Tue Sep 07, 2010 8:08 am
Hubby gets different amounts each payday but our IP just adds them up at our 6 monthly review and then tells us what we owe or not.
 
 

liamjames

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Post by liamjames » Tue Sep 07, 2010 9:14 am
The wage is averaged over several months, so unless your husband's wage is regularly more than anticipated, you will not be asked for any extra. :)
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Liam James
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http://www.vardennuttall.co.uk

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MelanieGiles

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Post by MelanieGiles » Tue Sep 07, 2010 9:29 am
Yes - the amounts should counteract each other, but you should check the actual wording of your IVA documents to be sure.
Regards, Melanie Giles, Insolvency Practitioner
 
 

c.j

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Post by c.j » Tue Sep 07, 2010 1:24 pm
My husband earns varying amounts.We averaged out his wage for our iva payment.His wage can vary between 100 pound under this figure to 200 over.Our iva company ask for wage slips every 6 months and work out what we owe.
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