www.iva.co.uk

Please have a look at this excellent article over on Debt Camel regarding the changes to standard protocol during the pandemic, designed to make changes and support easier, without the need for a variation. https://debtcamel.co.uk/coronavirus-new-rules-ivas/

Thank you for posting this, was a really good read especially for me working in a care home doing few extra shifts as my husband is on furlough till the end of next month at the moment.

Good to see these changes, particularly the key workers able to retain their overtime fully during this time .

That's good news.

Hi guys. Just to let u know I got an email from Creditfix and they also don’t take any extras from key workers

Hello.... in relation to the last i emailed McCambridge Duffy who we have our iva's with and they came back with the following...
Your IVA is not a Protocol IVA, your IVA is governed under the R3 Standard Terms and Conditions therefore the guidance would not be applicable to your IVA.
I understand this is a difficult time for you.  If you wish to retain any overtime earned, then a meeting of you creditors would be required, and we could put forward your proposal to retain any such funds. We would assist you with putting forward any such variation proposal to your creditors

I don't feel as though we would have a case to put to our creditors really as luckily we are both well and working full time at the minute so all overtime is going to have to be paid as usual.
Just wondered what the diffetence is and is it certain companies do one type of IVA and others do others?

Thanks in advance ☺

Yes, MCD do use R3 terms and conditions which, although broadly similar to Protocol arrangements, do differ in detail. There is no 'set in concrete' format for terms and conditions, indeed, as long as the agreement adhered to the actual legislation in its operation, any Ts&Cs could be used. The inceptions of both R3 and Protocol templates were simply to introduce some consistantcy and to make the processes more standardised and, therefore, easier for everybody to know what was on the table.

Okay thank you Foggy, that's disappointing on our part, was hoping we'd get to keep a little bit of extra for a time .

I would take McCD up on their offer to put forward a variation. Cite the reasons as being simply that you would appreciate being treated the same way as key workers in arrangements under Protocol in this unprecedented time. They are the same creditors who are doing this for those Protocol arrangements, so why not R3 ? Worth a shot, especially if McCD are willing to assist. Their response suggests some support there.

Thank you Foggy, good idea, I will give that a go as nothing to loose!

You have nothing to lose seeking a creditor review - worse case you have to pay it over as normal, best case you have extra in your pockets .

Let us know how you get on .

Good luck and I hope it goes your way.

Thank you. Creditors meeting is planned for mid June so fingers crossed. Will definitely let you know what happens, thank you

Fri May 08, 2020 7:58 pmDora06 wrote:

Thank you. Creditors meeting is planned for mid June so fingers crossed. Will definitely let you know what happens, thank you

Best of luck with it.

Good luck.