REVIEWS

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cashflowlow

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Post by cashflowlow » Fri Jun 20, 2008 9:49 pm
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Im 10 months into a 6 year IVA can anyone tell me when they do reviews and what they want to see,,,thanks
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MelanieGiles

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Post by MelanieGiles » Fri Jun 20, 2008 10:16 pm
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Hi there and welcome to the forum

Your IP will usually do a review at the end of each year, and they will want to see details of your earnings and expenditure to ensure that you are paying the maximum affordable amount.
Regards, Melanie Giles, Insolvency Practitioner
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cashflowlow

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Post by cashflowlow » Sat Jun 21, 2008 2:08 am
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As Iv room in my house I was going to rent it out to a friend would they allow this ?My first year is up in Sept so I would presume around that time they will want to see 3 months wage slips and bank statments and me to fill a form in simular to when I applied for an IVA listing my out goings.
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Soulgrowth

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Post by Soulgrowth » Sat Jun 21, 2008 8:21 am
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Hi cashflow ... welcome to the Forum.

I can't see that there would be any problem at all in renting a room out ... but I would imagine this would be classed as 'income' and so might affect your IVA payments. I never got to the stage of a review as my IVA failed before the first year, but I think you are spot on with what your IP would want to see.

Al the best

Debbie
Debbie
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Adam Davies

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Post by Adam Davies » Sat Jun 21, 2008 8:23 am
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Hi
"They",presuming your creditors will have no say in you renting a room out or not.You may need to inform your mortgage company though.
Yes you will have to fill in a fresh income and expenditure form,and you will have to show your extra income from the room rental.You should be able to offset this with increased fuel costs etc etc
Regards
Andam Davies
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