Reviews

[baz36]

I was just wondering now in IVA, how often are the reveiws? and what exactly do they look at? do you have to show them every payslip for the year? how does it work?

thanks

[steve532]

Hi Baz
It depends on your proposal. The chairmans report should list your conditions. Mine personally I have to show 3 payslips previous to the review and my p60.
But i guess all proposals are different.
Be Lucky

steve

[steve532]

Baz.
Sorry I forgot your 1st question. The Review is annual.

steve

[baz36]

thanks for that. Just wondered how overtime works? i dont work any myself, but hubby works some, but its not guaranteed, are we expected to work out how much extra we have got in 1 month, just use half and then somehow save the other half? if thats the case we do we put it, i wouldnt want it in the account, i would get very confused, and also wouldnt want it lying around the house

[steve532]

Hi again Im military and dont get any overtime either. You have to pay 50% of any overtime/bonus at your annual review. but if you find it easier send it monthly or every couple of monthes to avoid a lump sum. or put it in a savings account and earn some interest. But its up to you just do whats easiest for you.

steve

[aguise]

My husband does regular overtime and we ring our ac manager each month and he takes the 50%. Its easier that way as otherwise you may get a huge bill at review. Still worth doing though as gives you that bit extra to survive on.

Ang

[baz36]

do you get a visit or are the reviews just done by post and phone?

[neverending]

Hi
I would agree with Aguise and send the overtime payments[50%] each month otherwise you will have a hefty bill at your annual review.
My own IP asked for payslips each three months.
Also at your annual review you will fill out a new income and expenditure form.If you show an increased disposible income then you will be required to pay this into your IVA,so make sure that any increase in income is swallowed up by increased expenditure,if you can.
Regards

[aguise]

Hi Baz
Not had one yet but know someone with my company and they just did it by post, just wage slips p60 etc. By the way my company is Freeman Jones.

Ang

[neverending]

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