www.iva.co.uk

Hi All
I am at this moment in an IVA and paying £308 a month. I have no 50%overtime clause in my proposal However my Girlfriend who I live with will lose her full time job soon but has been offered part time work. What is the effect of this on my IVA??
I have looked through our figures and if she works part time and if I can work overtime we should still be OK to manage the £308 payment, However what I am worried about is when it comes to the annual review will the IP increase my payments because of the overtime worked or will he see that she is now working part time and so we need the overtime to pay the other bills??

Hi Adam
I'm quite sure that when you do your annual review, your overtime will just be taken into account to make up your girlfriends loss. One of the experts will confirm this i hope x

I'm pretty sure one will be offset against the other and it shouldnt cause any real problems.

Hello Adam,

I have asked someone in our supervision department to have a look at this for you and in principle, as long as you provide your supervisor with a full explanation of your circumstances/detailed financial breakdown then he should not seek to increase your contributions. To demand an increase based solely on overtime is difficult in itself as it is not guaranteed. Remember of course, that you do not have the 50% overtime (additional income) clause in your IVA. Indeed, if you are working overtime to replace your girlfriend’s loss of income then the supervisor should be impressed by your commitment. However, if you are working regular overtime and your circumstances are an improvement on before then he may seek some increase.

Hi All
Thank you for your great advice, As everyone says this is a great forum for advice and reassurnace. I will try to discuss this further with my IP and hopefully we can sort something out. I would hate to think that I am working a fair bit of overtime to mainitan the IVA only to see it fail due to unreasonalbe demands. Will let you know any progress.
Thanks Again.

If your girlfriend's income was taken into account when the IVA was proposed, and you were effectively treated as a couple, then there will be no problem in using your overtime to negate her loss of earnings. If, however, you proposed effectively as a single person, and you have the requirement to pay 50% of any additional earnings into the IVA, this could cause some problems which you will need to discuss with your IP to find out what view they would take. Personally, I would allow a set-off for a short period of time, but would expect your partner to be actively seeking new employment in the meantime, as you have no real responsibility to supplement her loss of earnings.