annual rev

[mandamoo]

hi
i have my first annual rev and i am worried ...should i be?

[kallis3]

Hi,

As long as you have made your payments then no, you shouldn't be worried.

[mandamoo]

had a small pay rise, mortgage dropped due to coming off a higher fixt rate
but on the plus...if u can call it that
i have lost the same as pay rise in family tax credits
petrol and food has gone up immensely
HOW MUCH DO U GUYS SPEAD A WEEK ON FOOD???

[oscar]

Hi mandamoo, try not to worry about your annual review I know it's easier said than done. The review will take into account your income and expenditure so make sure you fill it all in to reflect your current position.Hugs
Oscar
x

[Shining]

I do believe that review time is always a bit nervy and I worry too but your IP will have it all in order and you will hear in due course. Any real worries do contact your IP, they'll give case specific advice. x

[kallis3]

As regards food mandamoo, it depends on the size of your family as to how much is spent. What allowance do you have?

[MerlinL14]

I have just sent off all my documents for my second review (that 24 months went real quick). I put in my I&E exactly what we spend on food, petrol and all the other stuff, if it is too much I'm sure my IP will tell me it needs revising. It really isn't as if the IVA will be defaulted just because you spend more on food than someone else in an IVA. Your IP is there to help you as well as making sure that you pay enough into the pot for all your creditors. Be truthful and respect the fact the IP has a job to do and I am sure you will be surprised at how smoothly your 60 months will fly by. Best of luck. [:D][:D]

[luluj]

Your I&E reviews need to reflect your actual costs.... if you feel that your bills have increased and have the receipts then send them in as well as evidence of the increase.
Here's hoping your IP is reasonable and one balances out the other !

[kallis3]

Send off exactly what you have spent and maintain contact with your IP company.

If you need anymore support then let us know.

[Andy.75]

Hi.
On my 1st annual review i had to declare a 150 per month pay rise but i offset it against rising cost of fuel, shopping, car insurance and road tax. All of your outgoings will prob go up slightly throughout the year and i didnt have to pay an increase.

As for the food allowance. I have a wife and 2 kids age 7 + 3 and our food allowance is 120 per week.