I appreciate that they are entitled to claim back any surplus money. I have as I have always done kept 50% and saved 50% of any excess to pay into my iva as per the terms and conditions, so I am in a position to pay this money. What surprised and upset me was the threatening tone of the letter. I have never once missed a payment in 3 years and have always sent payslips for review on time. I can`t do anything until they have reviewed my payslips.
My income varies from month to month and I assume that they average out my income over the three months.
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
My policy is to always revert to basic wages for proposals and annual reviews. The IVA protocol makes it clear what happens with uplifted sums, and I do not feel that it is fair to move the goalposts halfway through an IVA - unless you are receiving a new set benefit which has effectively increased your guaranteed income.
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'e just seen a line in our 'report of the nominees' document which states "The nominee having reviewed the proposals believes that they are protocol compliant".
Does this mean our iva's are protocol compliant?
It does - and salaries should be based upon "normal take-home pay". Is it the case that your wife's salary is consistently higher than when the IVA was taken out, and that your IP has recalculated the basic salary accordingly - including some of the extra funds?
Her average take home pay has never changed. The iva was never based on her take home pay. They told us it would be based on her basic pay because if they done it on take home pay and she was off sick we wouldn't afford the payments. They told us only o/time and bonuses would increase our payments and this is how they've managed it so far.
Sorry Melanie, if I could ask 1 further question.
Does 'normal take-home pay' include or exclude any night and weekend enhancements (is it the actual net pay)?
It really depends on what her "normal take home pay" actually comprises of. Sorry but I can't advise you about specifics - merely to say that the review ought to be based on the same basis of salary calcualation that was used for the proposal - unless an error had been made at the proposal drafting stage of course.
