HI i am coming up to my fist 12 month's in an IVA in may . Really worried. My husband and myself have been lucky enough to get overtime,which we have been doing as in the school holiday we have to pay extra for childcare (after school clubs etc) also the children have had birthday and party's which is extra again. the IVA did not take any of this into account. Now oviously when we do the annual review it is going to show an even higher income for myself and husband. Really really worried as do not want to fail IVA, other expenses in the house we live have come up ecently aswell Central heating etc. we have not been in contact to say anything as the overtime has been there.
You need to speak to your IP about this as you should have paid over at least 50% of your overtime to the IVA if it was more than 10% of your take home pay.
You may be ok with the child care, and central heating repairs are necessary but not the parties as these should have been funded from any savings you could make from your other allowances. I'm afraid IVA's don't allow for birthdays or Chrismas.
Speak to your IP and you may be able to tag any underpayments on to the end of the IVA, or have it split over a number of payments.
Do you not have to send your payslips in on a regular basis
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Both you and your IP have to follow the term of the IVA, as this is a contractual document between you and your creditors. If you have been required to send additional money from your additional earnings, but have failed to do so, then you may have to make this up at the end of the IVA, and your IP will want to see your wageslips on a more regular basis moving forward.
The additional expenditure you have incurred will be taken into consideration at the time of your annual review.
