www.iva.co.uk

hi , I have been recently accepted for an IVA in May 2009. But i am really worried as i informed the iva people prior this that even if i am accepted i will still need to pay £240 a month to a family member until dec 2009. I have been lucky enough to be able to do overtime in my workplace to make this up. But my concern is that as a result of me doing this it will increase my annual salary upon showing p60 end of year. I have rang through to my IVA consultants and they have said that instead of showing my P60 i could give my last 3 bank stataments showing my monthly salary instead. I have said i just want to do the right thing as by reading a bit more in the contract does not seem to state this and i did make them aware of this from the start. Help!!!!!

Doing overtime will not have any impact at your annual review as your payments are worked out from your basic salary, I wish I could get overtime as it all helps!

Hi Mel and welcome to the forum.

Do you have the any overtime earnt you keep the first 10% and then 50/50 is paid into the IVA. It is important you check this out and pay over any monies owed as soon as to prevent any nasty surprises when review time is here.

Is it payment for a loan to a family member?

I presume your IVA company were quite happy for you to continue to pay this money?

It may be that the company asks for some of this money to be paid across if it is overtime. You should speak to them to find out exactly what the position is.

I am also curious to know what this money is being paid for, and whether the reasons for the need to do this were fully disclosed in your IVA proposal. Could you confirm these points please, so we can advise more fully?