50% overtime clause

[Phil]

HI
Is it unusual not to have the 50% overtime clause in your proposal?
If so what are the Implications of not having it in ?

Cheers Phil

[MelanieGiles]

If you do not have the 50% overtime clause, which in my experience is getting less common, then your IP will review your circumstances once per year and determine whether a general increase in payments in relevant.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Phil]

Thanks Melanie,Then obviousley If overtime has been done which will show on my p60,and expenditure has not changed they will increase my payments accordingly.So I wont get a bill ? They dont review my wageslips every 3 months only on a annual basis.
Just concerned as I have had to go in on a few weekends to cover other people who are off.
Phil

[MelanieGiles]

That's correct Phil. Just a once a year review, and you will only pay over excess monies if your costs of living have not increased - which they will have!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[Phil]

Oh yes they certainly will have.I am positive of it.
Thanks again Melanie.
Phil