IVA REVIEW NOT DONE

[size5]

Good job Melanie isn't around Poland, she would take great umbrage at what you have said. [:D][:D][:D]

[kallis3]

Exactly.

I don't enjoy it - I would far rather have the money in my pocket, and be able to pay my monthly payments to my creditors.

I have been thrown a lifeline and am satisfied that I am doing what I can to get myself back on track.

I actually have a good relationship with my company, which is one of the biggest in the country.

[POLAND]

I don't think you'll find people enjoy being in an IVA, more that they are pleased they no longer have the worries of their debts and that they have been given a second chance.

How do you mean worries of their debts! Just because you are not getting endless phone calls you are STILL PAYING DEBT OFF.

[Skippy]

Anyone in an IVA is paying back as much as they can of money that was borrowed in good faith. Don't forget that the majority of people have a chunk of that debt written off.

[kallis3]

Very true, but at least you can afford the payments, live within your means and know that you are going to be debt free in five or six years rather than paying it off forever.

I don't worry about mine anymore. I don't dread the phone ringing or the postman calling.

[POLAND]

Very true, but at least you can afford the payments, live within your means and know that you are going to be debt free in five or six years rather than paying it off forever.

I don't worry about mine anymore. I don't dread the phone ringing or the postman calling.

I do understand what you mean as nearly hounded me to death so i have got relative peace now. I probably just have a bitter view off all money collectors. I used to be in Credit Control too lol

[kallis3]

So you know it from both sides of the fence![:)]

It is much better being in relative control of your debts rather than being bullied on the phone by someone trying to get blood out of a stone!

[plasticdaft]

As others have said no one enjoys being in an iva as such but for many,myself included,have spent 7 or 8 years juggling money around thinking I was in control when in fact my debt was controlling me,to the point of strangulation. Without IVA/BR/DMP etc where would we go.

I agree that many a firm is making a lot of profit out of other debt and would be interested to know the turnover of some of the bigger firms.

[POLAND]

So you know it from both sides of the fence![:)]

It is much better being in relative control of your debts rather than being bullied on the phone by someone trying to get blood out of a stone!

Yes certainly do! Luckily moved into a different role in the company and enjoy it more. What makes me laugh is i still do the credit checks though!

[kallis3]

[:D][:D]

[northumbrian69]

So what is the answer to POLAND's original question, 'why would GT not do an annual review', I know a 'creditors statement' must be sent out annually but I have never seen anything written down which states that regular I&E reviews have to be carried out.
Perhaps the experts could clarify this point because POLAND may be worrying uneccessarily[xx(][xx(]

[POLAND]

So what is the answer to POLAND's original question, 'why would GT not do an annual review', I know a 'creditors statement' must be sent out annually but I have never seen anything written down which states that regular I&E reviews have to be carried out.
Perhaps the experts could clarify this point because POLAND may be worrying uneccessarily[xx(][xx(]

Yes and also on my original agreement it said 60 payments of xxx amount.

[Julie]

Do we have any other posters with GT?

I thought a review had to be completed annually and within 2 months of the "anniversary".

Even though the proposal states xxx for 60 months, if say, your income increased during the duration, your repayments also may increase. Likewise if your expenditure increased, your repayments could go down. Thats why a review is beneficial to both you and the IP.

I would contact your IP

[MelanieGiles]

How do you know that GT have not carried out an annual review? They may well have looked at your income and expenditure and decided that no adjustment is necessary. If you have received a copy of their annual report, and they have not asked you to increase your payments, you can be pretty certain that a review has been undertaken. Best to check with them just to be sure, but I would be very suprised if this firm had not complied with a statutory requirement.

[David Mond]

I think you have succinctly put the position. The responsibility is with you to keep your IP informed of any changes both in Income and Expenditue. As regards your Annual Review - usually pay slips, bank statements and an up to date I&E form. Seems that you are on the right track though. Well done.