Overtime & Bonus

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caraf

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Post by caraf » Wed Feb 20, 2008 4:19 pm
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Hi
Me and my husband have interlocking IVA's which where approved on the 27th December 2007.

If i get a bonus or work some overtime is that money paid into my iva or is it divided up and paid half into mine and half into my husband so all the creditors benefit??


Thanks
carol
53 down 7 to go !!
Cant wait till December 2012
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cat 1

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Post by cat 1 » Wed Feb 20, 2008 4:37 pm
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I'm with CS too and have interlocking IVA's. They insist on 2 different cheques as although they interlock they are seperate acounts.Cat
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MelanieGiles

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Post by MelanieGiles » Wed Feb 20, 2008 4:55 pm
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Hi caraf

If you have interlocking IVA's the money goes into the combined pot, but if you ever had to split the arrangements up you could probably claim credit for the full share.
Regards, Melanie Giles, Insolvency Practitioner
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goulda

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Post by goulda » Wed Feb 20, 2008 5:33 pm
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Melanie,

Just a thought I have a joint IVA as well with two monthly payments. Last month instead of two standing orders of equal amounts I amended to one standing order. Is this okay?
A. G. Gould
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MelanieGiles

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Post by MelanieGiles » Wed Feb 20, 2008 5:54 pm
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Absolutely - well it would be in my practice as all of our interlocking cases have the same bank account - but check with your own IP just to be sure.
Regards, Melanie Giles, Insolvency Practitioner
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