www.iva.co.uk

SO - two weeks to go till the arrival of my first child! it has been a great year - its amazing to see how far i have come since the life of sleepness nights and anti d's getting me through my debt problem - i will be 3 years in my iva in march and cant believe how fast it has gone!

has anyone had issues with payplan with the overtime payments - i started working 2 sundays a month in may to make some savings for when littlen arrives - in may, and again in aug i phoned payplan to let them know i had been earning overtime and offered my payslips over - they didnt seem to care and both times have said they only review on an annual basis - we still have the money saved but i`d be gutted after trying to give them money they take away our baby fund

anyways just a little worry rant - have a great xmas everybody!

Good luck with your impending arrival!

Hopefully, if you as to keep the little bit you have put by, they may let you keep it under the circumstances.

Best of luck with the impending arrival from me too xx

I am with payplan but have only just started my IVA but I am going to pay 50% of any overtime or bonuses i get straight into the justabank facility they have, at least then I will have no silly requests for money at the annual review!!

I think you will be able to make a case for the extra money going towards your new arrival when the annual review comes round & you do your I&E

Good luck with the new arrival BTW[:)]

Payplan are pretty busy at the moment. They may not check your incomming. Mine wern't checked after the first year, although my circumstances havn't changed, mores the pity.

Put the money away like you say. If it dosn't get picked up then, you'll have a nice little nest egg.

I would actually check it with them first before you are tempted to spend it, just incase you get stung for it later on when it could all be gone.

I'm with payplan and my salary increased by around £10,000 a year about 3 months into my IVA. When it came around to my annual review they simply asked for the last 3 months payslips and even though these showed the increase they didn't ask for any of the extra money I had earned through the year they just upped my future payments.
I've had a salary increase every year since then(now approaching the start of year 4) and they've done the same each time.

Hi

I really think it depends on your proposals. Some have a provision in them that a percentage of any overtime needs to be paid into the arrangement others do not. Though now all proposals that are drafted in line with the IVA Protocol do stipulate that 50% of any additional income (over and above 110% of that stated in the proposals) should be paid into the arrangement.

The older Payplan proposals did not make any provision for additional income to be paid into the arrangement and any requirement to do so was as a result of modifications put forward to creditors at the meeting which approved the proposals.

Liz is right Protocol Compliant IVA requires 50% above the 110% to be paid over - so debtors who receive increases should either put the money aside or make immediate arrangements to increase their monthly payments to their supervisor.