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Posted: Mon Mar 17, 2014 9:14 pm
by deeps227
in my chairmans report it does not mention 10% 50/50 about overtime or anything relating to it. does this mean I can keep all my over time worked?
Posted: Mon Mar 17, 2014 9:34 pm
by kazzafunk
I have not heard of an IVA recently without this clause in.
When did your IVA commence? I would definitely check with my IP if I were you.
Posted: Mon Mar 17, 2014 9:35 pm
by Foggy
It isn't often mentioned in the Chairman's Report, but it should be in the actual proposal.
Posted: Tue Mar 18, 2014 11:09 am
by Michael Peoples
Foggy is right. If it was not written into the proposal creditors would have introduced a modification.
Posted: Tue Mar 18, 2014 3:17 pm
by MelanieGiles
Not necessarily - it depends on who the creditors are. A self-employed case, comprising of a lot of trade creditors for instance would probably not get this by way of a modification. And if it were already in the proposal, surely the origianl poster would have known about this - it being an express term which should have been explained prior to signing.
Check with your own IP dees227 for absolute and clear clarification.
Posted: Tue Mar 18, 2014 3:26 pm
by Michael Peoples
Yes but the poster wants to know if he/she can keep their overtime so they must be in a PAYE position. I do agree this is poor if the poster does not know the contents of their proposal or their obligations under it. He/she needs to speak to their IP because if they do not understand a basic tenet of the IVA there is a possibility of other things they are unclear about.
Posted: Tue Mar 18, 2014 3:30 pm
by MelanieGiles
Good point Michael! If often wonder if we left some of those clauses out, whether creditors would actually spot that they were not it. I am not sure that most of them even read the proposals these days.