Annual Review

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BlueShoes

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Post by BlueShoes » Wed Jul 11, 2007 7:20 pm
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Hello
Assuming the IVA is up and running smoothly, what does the annual review process entail?
Does the IP present a report to creditors about I & E including any changes? Or does the IP only contact the creditors if there is to be a change in the monthly payment (increase or decrease) depending on circumstances?
Are the annual reviews more of a formality, or actually a vehicle to ensure transparency in the whole process for everyone involved?
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MelanieGiles

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Post by MelanieGiles » Thu Jul 12, 2007 12:46 pm
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Annual reviews are done at the end of each year and involve a report being issued to you and your creditors explaining how the case is progressing. This will include an update of your income and expenditure.

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

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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