www.iva.co.uk

Good morning

Need some advise before I go to my IP.

My hubby is being paid extra this month and next month for 8 weeks worth of accumulated annual leave he wasnt able to take and some he built up while working on a project.

How is this viewed by the insolvency? He hasnt had a proper holiday or week off in almost 2 years.

Will the insolvency apply the 10/50/50 rule to his annual leave extra pay?

I hope someone can help me, I did have a good read of our proposal but annual leave is not mentioned. Please see below the extract from our proposal;

"11. I will report any overtime, bonus, commission or similar to the supervisors if not included in the original surplus calculation, where the sum exceeds 10% of my normal take home pay. Disclosure to the supervisors will be made within 14 days of receipt and 50% of the amount (over and above the 10%) shall be paid to the supervisors within 14 days of the disclosure. Failure to disclose any such overtime, bonus, commission or similar by me will be considered a breach of the IVA "

Please help. Many thanks

I would assume this comes under the 10% 50/50 rule but I can understand why this does not seem right. Call a variation asking creditors to exclude the annual leave income entirely as it was for holidays not taken.

I agree with Michael .. this is money you would not have had had he taken the time off work ..it isn't right that you should loose it in my opinion ... i hope you are able to keep at least the 10:50:50 element of it.

If you have the 10% 50/50 clause, could you ask your employer to phase the payments monthly and keep the sum paid under the 10% trigger ?

Good suggestion from Foggy who clearly can't keep away!

Good morning

Thank you all for your advise. It is not fair but I think it will be under the 10/50/50 rule. My husband wasn't allowed to take the time off due to the amount of work, nor is he still, otherwise we would have preferred the time off.

I will contact my IP today and send over the pay slip and confirm the amounts.

Many thanks for your help

Ask for a variation to allow your husband to keep the money. Creditors can only say no but given that it was effectively compensation for loss of holidays they may agree to it. You have nothing to lose by asking and at least he could hold onto the money to fund a break if and when he ever gets a few days off.

miak - on that basis make sure there are no issues for him under the working time directive.

Hi I was allowed to keep all my holiday pay in lieu of time off for 2 years, I had one week off per year and was paid the rest, PJG said it is not extra income.! The working time directive is a bit of a joke to my employer now ( takeover) We are expected to sign an opt out as managers and last year I lost 15 days annual leave as they will not pay in lieu.

I personally don't see it as extra income. You are entitled to a holiday and did not get one. Speak to your IP about keeping this per Michael's suggestion.

Hi everyone

Big thank you, I did as you all advised, especially Michael and I have emailed my IP and asked for a variation for the a/l income to be excluded.

Worst that can happen is a no, we still get to keep some of it.

It was perfect timing for this money, 2 car MOTS 4 weeks apart. First car failed twice. I had to spend over £200 on a new exhaust, radiator and other bits. Only paid for parts, hubby did the work. Second car, two new tyres, 4 new engine mountings and other bits. Over £250.

I love the good karma timing in my life, had it not been for this extra money I would be in deep "trouble".

thank you everyone, your help is much appreciated!! xx

Very best of luck from me and let us know how it goes.

We are keeping it!!

They got back to me within an hour of my email to say that the money belongs to my husband and they would not take it!!

3 years ago hubby was paid 2 weeks holiday when he changed jobs and he got to keep that too, but because its more money now and no job changes I didn't think we would keep it.

This is going to make a big difference to us. A safety net

And a nice fat turkey next month! And my stepson is coming over for xmas.


YAY!!! Thank you for your help x

That is great news Miak!

Enjoy it all !!

Brilliant and a great decision by your IP.