Posted: Thu Jul 02, 2009 3:35 pm
I have been ploughing through my paperwork and found some intersting clauses.
The first one suggests that following each annual review I can keep 50% of any increase in DI. This is great as I thought that ALL increase in DI would need to be paid in. So assuming my income rises (above the rate of expenditure) the IVA should hopefully get more affordable!
Secondly, it says that the supervisor has the discretion to reduce my IVA payment by up to 15% per month. Does this mean if mortgage rates go up I can lower contributes? This is one of my big worries.
Finally, in all the detail of my IVA propsal, IVA chairman report and IVA standard conditions, I can see no clause relating to overtime. All I can see is the section on "after acquired assets". Where should I expect to see this? What does it mean if it is not included.
I know I have read my proposal before but now the IVA is in place and the dust has settled, I can perhaps review it more clearly. And advice would be useful. Suggest you all re-read your smallprint
Thanks
The first one suggests that following each annual review I can keep 50% of any increase in DI. This is great as I thought that ALL increase in DI would need to be paid in. So assuming my income rises (above the rate of expenditure) the IVA should hopefully get more affordable!
Secondly, it says that the supervisor has the discretion to reduce my IVA payment by up to 15% per month. Does this mean if mortgage rates go up I can lower contributes? This is one of my big worries.
Finally, in all the detail of my IVA propsal, IVA chairman report and IVA standard conditions, I can see no clause relating to overtime. All I can see is the section on "after acquired assets". Where should I expect to see this? What does it mean if it is not included.
I know I have read my proposal before but now the IVA is in place and the dust has settled, I can perhaps review it more clearly. And advice would be useful. Suggest you all re-read your smallprint
Thanks