In an IVA and owe money to ex-employer

MITCH220

Hi, I'm sorry if I have placed this in the wrong forum - I'm a newbie and not quite sure what I'm doing!
I hope that someone can offer me some advice. I'm currently in an IVA and have found out that I owe my ex-employer a lot of money. Iwas paid a bonus payment twice. I have, like an idiot, spent most of it and have offered to pay it back in installments. This has been accepted by them, but I am worried that they will eventually pass it on to a collection agency who will notice that I am in an IVA and inform my IP.
I really do want to tell my IP about it - I can afford to re-pay the debt to my ex-employer out of my overtime uplift allowance on a monthly basis, so it would not affect the contributions to my creditors as they will still get the normal monthly amount but I am worried that my IP will put me in breach of the IVA because although I was overpaid (and the money not mine) at the time I got it I should have informed my IP about it and paid it into the IVA and not spent it.
My other option is to pay the debt in full and then I will be short in paying my half of the bonus into my IVA and offer to pay what I owe extra out of my overtime uplift allowance on a monthly basis back into the IVA.
My main concern is the breach of notice. Although I can rectify the matter before the IVA is due to finish, I am worried that my IVA will be terminated because of my stupidity and I am desperate for it not to fail.
Should I pay my ex - employer monthly and hope that they don't sell it on in the future and hope that it doesn't affect my IVA, or should I pay it all off and hope that my IVA won't be terminated when I tell my IP? And what reason can I give for my stupidity? At the end of the day, I am in the wrong because I recieved extra money and I spent it knowing that I should have paid it into the IVA. How likely is it that my IVA will fail because of this?
I'm at my wits end. Thanks in advance for your help.

[Deleted User]

I can see you haven't had a reply yet.

Why don't you call your IP and ask for some advice.

I don't think your IVA will be impacted as this is not money that you have borrowed, it's been paid and spent by mistake.

If you do decide to pay it directly and for whatever reason it comes to light then as you say you may have a bigger issue, the problem may be greater as you have kept things hidden and have caused a breach of trust.

Good Luck, I hope you get it sorted.

DVardysShadow

Are you satisfied that you really were paid the bonus twice? And is the amount the ex employer is reclaiming correct - in that you are not paying back the gross overpayment, only the net overpayment?