www.iva.co.uk

Posted: **Fri Feb 22, 2008 11:56 am**

My agreed IVA payment is £256 per month. I can earn £250 net per month in overtime, but its not guaranteed. I have the 10% overtime clause, where i hand over 50% after the 10% allowed. My question is, that come review time, will my IP see that I've done all this overtime, and want to increase my monthly payments.

Posted: **Fri Feb 22, 2008 12:25 pm**

It is likely they will want to increase, however the fact that you are already following your IVA agreement by handing over 50% of it then this should hold you in good stead! Also the cost of livin is significantly rising more so than our payrises are so I wouldn't panic too much!

Posted: **Fri Feb 22, 2008 6:39 pm**

If you have that clause Debbie, you probably also have the clause that says you will pay over 50% of any increase in your net income (ie after living costs) at each annual review. That then forms a new baseline for future reviews of overtime.

Posted: **Fri Feb 22, 2008 7:31 pm**

My husband has been working all overtime God sends to help us keep up our payments... we have just started collecting our things to send to IP. will all this overtime be taking into consideration as his wage. As this has affected his health (just been diagnosed with depression) and our marriage. This is why we have entered into this IVA as drowning in debt and worst of all our marriage was nearly at breaking point!!! He wouldn't be able to keep it up also as company has advised is drastically cutting its overtime

Posted: **Fri Feb 22, 2008 8:23 pm**

Hi
Overtime should not be used to determine wages,for the reasons that you state[it can stop with little or no notice]Your husbands basic wage should be used to determine his income and taking away expenditure will give the true disposible income.This should be the IVA payment
Regards

Posted: **Fri Feb 22, 2008 8:31 pm**

thanks andy, he's just got a new contract stating new wage so he will send a copy of this to Melanies team with the payslips..[:I] its a very daunting process this IVA mallarchy

Posted: **Fri Feb 22, 2008 9:24 pm**

Hi angela
this was one of my worries when we applied for the iva, but it was worked out on just basic wage.

Ang

Posted: **Sat Feb 23, 2008 9:08 am**

thanks Ang... you just wonder sometimes how things will pan out with the info sent.. hubby seems to be coping abit better now this is all out in open and we are actually trying to right our wrongs.. think trying to protect me for so long has taken its toll... explained to daughter also (13 yr old) whats going on as well so onwards and upwards hopefully...[:I]

Posted: **Sat Feb 23, 2008 10:23 am**

Thats great Ang. I have no doubt you will be fine with melanie so stop the worrying. We were a bit the other way round, I had protected him from it due to his heart attack, and kept saying oh we are fine, when I knew we wer'nt. A great weight was lifted when we spoke to our company, we took a day off and sorted everything out together, he made the coffee while I changed all the debits to our new account. It was all a huge relief. I felt even if the iva wasnt accepted we would deal with it now anyway.
I'm glad you have told your daughter she will surprise you now she understands.

Alll the best Angela.

Ang xx

Posted: **Sat Feb 23, 2008 10:50 am**

well we've told her she can have £10 a week as she used to go dancing £10 and then cinemas an shopping with friends. Told her £10 is limit, so has to choose what she wants to do with it. She is fine with that said she will go dancing unless she organises with friends to do otherwise... seems to be fine!!![:I] just me thinking letting her down

Posted: **Sat Feb 23, 2008 11:56 am**

She will be ok and may surprise you by budgeting with her money too, I am sure you will find the bit extra to treat her occasionally.

Ang

Posted: **Sat Feb 23, 2008 12:13 pm**

I know she will.. kids are made of tough stuff!

Posted: **Sun Feb 24, 2008 3:23 am**

angela I have a fourteen year old and it is hard at that age for them, I've told my daughter, not about the IVA but about money problems we're experiencing. She understands, she only has £2 @ week pocket money but we buy other things for her. She does have a mobile but never has credit on it as my phone has lots of texts/minutes with the contract I just let her use mine in the evening and she uses MSN to keep in touch with her friends mainly. I just don't want her to suffer for my foolishness and so far I don't think she has but I'm very new to IVA so let's hope it continues with positivity.

Posted: **Sun Feb 24, 2008 4:24 pm**

WELL WE'VE JUST STARTED PROCESS SO FINGERS CROSSED I'LL TRY AND PROTECT HER AS MUCH AS POSSIBLE, SHE ALSO USES MSN SO THATS A GODSEND!!