www.iva.co.uk

HI All,this is my first post, may I say how much help I have had from the forum over the last few weeks,thankyou.

My question is my wife and I are having a joint proposal put together and our meeting date is on thursday,my wife has a final salary pension which £96.00 is deducted at source evry month we were told a couple of weeks ago that creditors only allow £50.00 per month to be paid into the pension on friday I got a phone call saying that one of the creditors wants my wife to stop the £50.00 being paid in to now, they are ringing me back on monday to see that I have done it.

Rightly or wrongly I am going to tell them that she isnt going to do it would appreciate your advice.Our joint debt is 41000 and the payments set at £435.00 per month.once again thanks for all the advice over the last few weeks .

Hey Mike, welcome to the forum, so glad you decided to post. I can't answer your question but I'm sure an expert will be along shortly to advise you, good look and keep on posting. Viki X

I never have creditors attacking client's pensions, unless they are paying into personal schemes rather than occupational, so I would get a second opinion on that before you agree to affect something you will need to rely upon later in life.

I pay into a final salary scheme. I pay £211 per month into this which is deducted at source. It was not included in my IVA and no mention was made of a specific amount I was allowed to pay in.

Thankyou, I was begining to wonder if this was a way of getting more money from us because they have also been asked to reduce their fees.
many thanks mike

hi mike

i pay into a final salary scheme works pension too and mine has just continued into my iva!

barb x

I pay into a final salary pension scheme at 3%, this is the basic that everyone in the scheme pays no AVC's and this works out at more than £50 a month and has got through 2 annual reviews so would ask your IP to reconsider creditors proposal.

My company had the last three payslips which quite clearly state my pension payments, and nothing was mentioned at all about my pension.

They are deducted before any other deductions. It quite clearly states on my payslip 'pension'.

Just rechecked my original proposal. The only asset included in the IVA was the equity in the house. Pension was excluded from it, states it in the proposal and was not mentioned on the chairmans report.

I would certainly challenge what you have been told Mike.