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Posted: Sat Jun 23, 2007 1:02 pm
by 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
Posted: Sat Jun 23, 2007 1:05 pm
by 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
Posted: Sat Jun 23, 2007 1:22 pm
by 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
Posted: Sat Jun 23, 2007 1:24 pm
by 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
Posted: Sat Jun 23, 2007 1:42 pm
by Phil
Oh yes they certainly will have.I am positive of it.
Thanks again Melanie.
Phil