I understand that 10% of extra income - bonuses and etc can be kept. What if company paid annual bonus in company shares? It would work out less than 5% at the time of payment, but through IVA period it might increase in value or even if remains the same at the end of 50 months it would be an equity...
It's possible that the IVA provider might expect you to realise the value of that asset (and pay it into the IVA) if it is possible to do that.
You should clarify with the IVA provider that you choose how they would view such shares and what your obligation will be. They're a little different to cash, so I'm not sure they'd be seen in the same way as an income increase.
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So when does it change from windfall to 10%? Bonus in my case would be only once a year, depending on company performance. No guarantee of it. And definitely less than 10% of my annual take home. Therefore I'd budget expenses without taking it into account and should be comfortable with it being put into "rainy day" fund. But 1. am I better off spending it to avoid it being taken off? 2. Would I be asked to go 50/50? 3. Would it be included into my annual income prediction for the next 12 months? 4. Would it be taken as a lump sum 4 years down the line? 5. I'm working in contracting so there is real possibility to be "layed off" (complusory leave without pay) for couple of weeks a year - sure "the rainy day fund" is in creditor's interest too...
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