IVA Approved - what happens in a yearly review

[DiddyDruid]

My IVA was approved in September and there was a huge weight lifted. I hope this is a new beginning. What happens
In a yearly review?

[Foggy]

Basuically a mini-repeat of setting the arrangement up with regard to income and expenditure. They will ask for proof of both, by payslip, P60 and / or bank statements for income and bills for some expenditure items ( though they seem to often rely on the original expenditure figures if you are not claiming any increases). They will check mainly that all income has been accounted for and the extra payments required have been made into the IVA. It is usually a quite painless operation.

[Jessie91]

I’m with Creditfix and just had my first yearly review for me they asked for 3 months bank statements, 3 months wage slip, P60, and the updated income and expenditure form. I sent it all through emails and took max a month to get back to me and had no changes

[luluj]

Congratulations on getting your iva approved - it certainly is a weight lifted.

The next 5 years will go quickly - make your IP your best friend, let them know of day circumstances changes as they happen, changes of income etc so adjustments can be made as they happen where necessary

Don't be a stranger on the forum - we have all been where you are now and will give you the support and encouragement you need, especially when things don't go to plan.

[DiddyDruid]

Thanks for your replies one less thing to worry about