It all depends on what your iva says. Some people have to pay across the first 10% over their normal pick up and then split the remainder 50/50. Others have a straight split.
Check what your paperwork says.
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
If you are already in an IVA,check your paperwork for specifics on overtime and bonus pay. If you are just thinking about an IVA make it one of the questions you ask any company you choose to propose an IVA for you.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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
You do need to check your paperwork Nicola - it should tell you on there.
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
I am just in the process of entering an IVA - my company have advised that you get to keep the first 10% of any bonus/overtime and the rest is split 50/50. So it's win/win situation I think.
There can be a variety of differing clauses in IVA proposals about how additional income can be treated - so please do check your own proposals rather than be relying on the well meant comments on the forum. We cannot possibly advise you on something of which we have no knowledge.
