www.iva.co.uk

I have been in my iva for nearly two years.i will be given a temporary promotion due to covering maternity leave at work for four months soon which could be up to a £500 per month payrise. My annual review is not due until the end of February.I informed the company who deal with my IVa and as usual they have said that i need to write in, this normally takes at least 2-3 months for a reply, they can also not do anyhing until they have proof which will not be until i get my first payslip(another month.).It is only because of this site that i realised maybe we can keep some of the money.

The company that supervises our Iva is so slow and to be honest i am sick to death of the contradicting advice i am given form their customer care team, one says one thing and another says another.


My expenditure will increase by approx £100.00 for childcare. Could someone please tell me if they will let me keep half of this rise based on this modification in my original proposal:

'The debtor in addition to the proposed monthly contribution, shall pay 50% of the net value of any overtime,commision, bonus or any other additional payment received in his/her salary. '

If they will let me keep the money- it will be great-i have had a lot of car repairs recently so we have not been able to buy clothes for months and we will not rely on friends to help us this christmas.
Do not get me wrong,i am glad that i entered into an IVA as i do not know where i would be now, although hard at times it is a realsolution it is just the company that are looking after it.
Thankyou so much for your help in advance.

Hi there

I would advise you to send cheques each month to your Supervisor, based upon 50% of the increased sum you are receiving, compared to the salary figure they used at the last annual report. Easy to do, and it leaves you fully compliant with your IVA.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Thankyou so much, i really appreciate this advice. I never ever get to talk to my IP and no disrespect to the customer care team at the IVA company, they just tell people to write in and inform the IP no matter what the circumstance and a reply takes months and i certainly do not want to have to hold onto the money for months-too tempting. Thanks again.

The trials and tribulations of being with one of the larger firms I fear!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

One mod that I have seen to my proposal is that if the amount of extra money is less than £500 a year then the IP can in his discretion not give 50% to creditors as it is not economical to distribute it, that would cover inflationary payrise nicely

<<My motto:I am proud of black culture and is against racist bigotry>

What a strange modification, when IP's are having to distribute in any case at least once per year in any case!

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp