I gets home from work tonight and i find a letter with enclosed an income and expenditure sheet and a request for 12 monthly wage slips and my p60.
Now i am worrying as it is my first Annual Review and it only seems like yesterday when i was first accepted for an IVA to try and resolve my Debt Problem.
At the moment i am a bag of nerves worrying about it, will my payments go up massively, will my IVA fail, have i paid enough into it as i have not missed a payment yet but sometimes it has been a struggle.
All i can say is that i have tried my best to cope with it and at least i kept up the main payments, but the cost of living this year has risen quite dramatically and i think it has been a struggle for us all.
I did have an extra part time job to help me in the IVA but the firm has now cut back on staff but i still maintained the payment even though this was included on my IVA application a year ago.
If you need any help with filling in the form Andrew, just give your IP a call or drop her an e-mail. This is nothing to be scared of, and is more for your benefit rather than the IPs.
In my experience, unless there has been a material change in your circumstances, it is very unlikely that there will be any increase in your payments.
When completing the form ensure that you put down the correct amounts - if things have gone up then say they have gone up, if contigency money has been used (and more) then say so - this is the opportunity for you to say so - it won't go against you - you have paid all your IVA payments correctly - I would imagine, like most, any pay increases that you have received this year have been swallowed up by the increase in bills and food and fuel etc - therefore you may not have to increase your payments - however if you are struggling as your pt job has ended then say so and ask your IP to consider lowering your payments - nothing to be scared about just be honest on the form and all will be ok.
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
