hi im in final year of my iva, it was due to end in november but on my final review my ip said i have to pay the overtime i earned and put it up by 60 pound a month and extended to feb 2012 my question is will they keep extendin it and reviewin my iva as my job is long hours and i cant help workin overtime
Hi bryan the key here is to keep your IP informed of any surplus income say every 3 months,and hand over any extra required under your iva terms, you will be allowed to keep sum youself.This way your iva should conclude as stated with no nasty shocks.good luck your nearly there.
What you should do is pay across the required amount of overtime each time you earn it and that way your IVA will complete a lot quicker.
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, i find it quicker and easier to pay my OT across everytime i get paid. I do a flat month each year just after my payrise, get no OT, then send my IP my flat rate wageslip. The every month half the extra i get and pay it across, sometimes it £7, sometimes it £80 but every little helps.
Last edited by antm on Tue Apr 19, 2011 8:03 am, edited 1 time in total.
Hi - it sounds as if your iva is being extended to give you time to pay across the OT you have already earned. Not an extension because your salary has gone up. Like the others have said, start paying across your OT each month and you won't need any more extensions. x
I have my IP set up in my bill paying section of the Co-Op's online banking .... so whenever I have an extra payment to make I just pop in the amount and press "send" --- relatively painless. I always follow these up with an email to my handler though.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Does your IP have discretion under the terms of the IVA to extend the arrangement? I would ask them where this is derived from, but of course you don't want to see it failing at such late stage simply because you have not paid in sufficient funds.
