Accuma Annual Review

[Lapdog]

Afternoon all,

Just wondered if anyone here had any experiences of the first annual review with Accuma.

Am coming up for my first year now and haven't heard anything so far. I understand that they have up to 2 months after the anniversary date in which to submit the new details. Just curious if anyone could share their experiences with this particular company.

[Julie]

Hi

My husband has an IVA with Accuma and we've just filled in expenditure forms for 1st review - haven't had a review and we started our IVA last February.

In our experience Accuma have been very quiet....we only hear from them if we make contact first.

[Lapdog]

Thanks for that Julie.

Are the IP's legally obligated by the terms of an IVA to carry out an annual review or are there circumstances whereby they will just allow the IVA to run its cause provided the original agreed payments are maintained?

It seems odd to me that a year into an IVA no contact has been made.

[ianmillington]

Like anything else, it's what is in the proposal. If for example the proposal provided for you never to make a contribution and the creditors were daft enough to go along with it (which they are not!) then that's what would happen. I would be surprised if there were no reviewing obligations and would expect you to hear either just before or very shortly after the anniversary that they want updated I&E details, but check the proposal and chairmans report to see what the score is.

The 2 months to which you refer is, I believe, the window they are given by The Insolvency Rules to get the annual report out to creditors.

Ian

[maizie]

Im with Accuma too although my review isn't for a couple of months yet. What did Accuma ask you to provide for your review?

[Julie]

Hi,

All we had to do for my husband's review was to complete an income & expenditure form and provide payslips and mortgage statement.

Julie x