www.iva.co.uk

Hello, i had my iva accepted in november and it was agreed that i could earn £1350 per month. This was made up of £1100 monthly income and £250 overtime per month. This was the amount that my income/expenditure was based on and monthly payment into my iva was based on.

I have received a letter today saying that a modification has been made to my arrangement and that i am allowed to earn £1110 plus only £111 per month, with me needing to pay 50% of and extra to my creditors.

Seeing as this is not what was voted on, are they able to make this modification into the arrangement thus reducing my earnings and ability to pay my agreed amount into my iva (£220)?

Your IP cannot modify your arrangement 3 months after it was accepted! I suspect there is some confusion in your IP's office with regard to the fact that some overtime was built into your base-line salary - presumably so that you could effect a minimum dividend offer?

Assuming you have the usual (new) provisions with regard to overtime in your proposal, the 10% and then 50/50 split is only applied after you have earned more than £1,350 per month.

Yes that is how it was agreed originally, 10% allowed on top of the £1350, then 50% payable on any amount over that.

Thanks for your reply, will be making a phone call first thing in the morning.

A letter like that is the last thing i needed after the day i had at work.