Good afternoon, after 6 years and 1 month we make our final payment on the 15th Sept.I have just received a call from the firm we went through asking about people in the household(they have had this info prior).I informed her that we have 2 21 year olds who work but earn very little so we don't take money from them(actually still give them!!).I also have a 17 year old who started an apprenticeship on the 30/8/16-I informed HMRC to cease child benefit on that day.The lady informed me that the income & expenditure form will need to be amended and we will owe more due to figures being incorrect as there are 3 dependants working. The figures are more or less the same throughout the entire term barring me taking the other 2 kids of school dinners/trips/pocket monies etc once they gained employment and extra fuel due to me taking a new job further away from my previous one.The wife is worried that we will be hit with a big FINAL payment which we would struggle to pay. This should be a good time to say 'yes' we did it but it feels like a smack in the mouth!!
If the dependants earn so little it may be that you won't pay anything,fill out the forms detailing all their expenses and try to prove they don't contribute to the household income.Eg bus travel clothing eating and anything you can think of.Regards to thensure apprentice as he is under 18 he is still classed as a dependant as he will earn so little in wages
Today 1st of December 2016 the vultures finally flew away
Thanks for the responses,we are with Mccambrudge Duffy and I must say they have been fantastic up until this point(I'm hoping I'm making a mountain out of a mole hill).My lad who has started the apprenticeship is 17.The other 2 as I say don't contribute due to them having very little disposable income.Surely they can't ask us to ask them for a breakdown as they are nothing to do with the iva?They haven't asked this prior and the lads are now 21-3 years being in employment after college,this is why the wife is worrying as she thinks they may want a lump sum as a final payment.Thank you
By all means contact me directly if you wish and I will do what I can to help. It may be that we are doing the final annual review and need an up to date income and expenditure account but given that there would only be a month left hopefully that is all it is.
