Hi guys - I have now completed 72 payments (an extra year added in lieu of equity). I have steadily had pay increases over the 6 years and my repayment t o IVA. has steadily increased in line with this. I have had a pay increase during year 6 too so am I right in thinking on my final review before closure I will likely owe some monies for extra earnings or does this not count as final payment has gone out and there are no more annual reviews due ? Also it is in my terms that closure may take 6 months - is that 6 months from now following payment 72 to allow extra time to address any extra earnings or will it allow the company to add another 6 months on again following actual last payment should there be extra earnings owed ? Not sure I can face much more than another 6 months max am exhausted with the last 6 years effort ( 7 if 1 year dmp included) - I have paid well over what creditors expected but not quite 100 % plus fees
A permanent pay rise during the year should not be taken into account until the review following the rise and any increase only after that review -- so I doubt that there would be any extra required in that regard. The six months is usually counted from the date of the last regular payment and Aperture tend to take the full quota whereas other firms take anything from a few weeks to a few months ! Let us hope your firm take the few weeks
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Foggy wrote:A permanent pay rise during the year should not be taken into account until the review following the rise and any increase only after that review -- so I doubt that there would be any extra required in that regard. The six months is usually counted from the date of the last regular payment and Aperture tend to take the full quota whereas other firms take anything from a few weeks to a few months ! Let us hope your firm take the few weeks
