been thinking about my iva and when i entered it i had shift pay on my pay slips but my wage differed every month..not by much though.
i'm still getting shift pay a year on but before my creditors meeting my ip sent me a letter saying she had decreased my monthly payments as my shift pay is not guaranteed and if i was to loose iti could still manage these lower payments.
my proposal was accepted anyway and my iva began.i've just had a horrible feeling that i will have to pay the creditors the extra shift pay even though my ip knew about my shift pay but still decreased my monthly payments!!!..
can they do this?
Last edited by oreetspud on Tue Feb 23, 2010 7:55 pm, edited 1 time in total.
well if your ip was aware that this was unstable income and sent a letter to this effect then you should be ok. even though you've still been getting the shift pay there is a chance you could have not been and your ip is aware of this. you could mention it to them i doubt you would have to pay it over as there is no guarantee you would have had it. the worst that would probably happen is if your income has been a bit higher this year and your outgoings are the same then it will likely that your monthly payment could increase slightly. hopefully one of the pros will confirm. why not just tell them whats happened-they're gonna see it on your payslip anyway -just to stop you sit there and fretting
hi flumpy..thanx 4 the reply..i'll be calling them tomorrow as i've heard nothing from them in a year..thats worrying too..in fact..i cant stop worrying...haha.
Don't worry, if you have been up front about the variable pay and your IP has said its ok, then I am sure it will be. Mine was very understanding when I received some arrears (about £300.00) and I had to pay for some emergency dental work, he just said he allowed me to keep this money to help me out, which seemed amazingly reasonable at the time!! I know your circumstances are different, but I am sure they just want to ensure you don't get into a position where you are unable to make your repayments because your wages drop.
As for not hearing from your IP, I didn't get anything from mine other than there 6 monthly magazine which everyone got and my annual review docs, which suited me (I tended to like to forget about it, once payments were all set up).
thanx everyone for your advice....i've been worried all day...one good thing...i'll loose weight at this rate..haha..
thanx again..glad i found this forum..at least i dont feel so alone anymore...xxx
i emailed my ip and he siad he'd get back to me shortly..nothing yet.
still fretting about this as he worked out my basic take home pay at £1289..when with shift allowance its £1360..but he saw this on my payslips and still decreased my payments.im thinking he'll want the difference paying back but i dont have it.
is this his fault or mine?
If you have it in writing from them then don't worry - they have told you what your allowances are and income is etc and therefore the balance of money is for you to do what you please with - they can't ask for it back.....they could readjust future payments but not take back what you haven't got !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
My shift and on call allowances are taken into account and are averaged out over the year (I work a five week shift system)
Just make sure that they have got your figures spot on.
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
hi..my ip called me back tonight and i explained al this.he told me not to worry and if i do owe anything after they worked out my annual review then they will ass a month or so onto the end of my iva..pheeeew!..
i really need to stop thinking the worst of every situation..i'm a b***** wreck!..haha..might treat myself to a cheap bottle of plonk this wkend...
u lot are a great help on here..thanx..
Shift pay should not be taken into account for the purposes of calculating disposable income - but will be taken into account on monthly reviews of any uplift.
