Inheritance and windfalls

[joh71262]

Following on from Goulda's post, I looked at my Debtmatters proposal and there was nothing in it regarding bonuses and overtime.

The only clause that I can find is one that refers to Inheritances and Windfalls.

It states :--

Should I inherit or otherwise benefit from any monies or assets not anticipated at the time of the arrangement, these will be included to make up any shortfall to creditors. I will inform my supervisor immediately and such assets will be made available up to the value of my total debts plus statutory interest".

It states nothing specific regarding bonuses (I don't get paid overtime).

Any ideas please ?

[MelanieGiles]

There is an argument that your bonus could be captured by the windfall clause - so you do need to check with your IP to see what their interpretation of this is.

[joh71262]

Thanks Melanie - I did wonder.

I have a couple of queries outstanding with GT at the mo so maybe I'll wait a week or so before I bombard them with more, especially as they have the variation meeting set for May 1st.

[Jinx]

I used to get an annual bonus from my former employer which was paid in January of each year. My annual review is in May of each year so on the basis of my previous three monthly payslips it never became an issue... If I remember rightly though I was supposed to pay 50% of any bonuses or overtime.

[joh71262]

If they had been inspecting your P60's as well, they would have noticed that your claimed salary and the annual total didn't match. I guess it depends on the size of the bonus as to how visible it is on the P60 but I'd have been worried that they would have picked it up later and asked for the money !

[joh71262]

JINX - I love your signature BTW !