www.iva.co.uk

Do the creditors need to see an itemized expenditure or do they have to accept the IP's word as a licensed professional that the offer is a reasonable one?

No I do not think so,IP is supossed act as a honest broker and creditors and debtors expect Him Or Her to balance things.


hara

I think the creditors see it too as on my meeting they requested i stopped my pension payments so as to add the extra to my contributions and ive seen others on the forum have modifications on proposals of expenditure requested by the creditors

Your income and expenditure details form an integral part of your proposals and so yes the creditors will see it.

You can ask that they are not included in the proposals, however, without a doubt, you will receive an automatic rejection from creditors to your proposals, which would only be re-considered on production of your income and expenditure details to them.

Some creditors now request that those details are provided to them on an annual basis in the annual report.



Tell it like it is.

The creditors definitely saw my expenditure as they made some modifications.

Hi Ivorquestion
Yes,without a doubt your creditors will see a detailed summary of your income and expenditure.
I think Hara is correct in that at each annual review the creditors will rely on the IP for income changes.
Regards


Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Income and expenditure accounts should be included in all IVA proposals and annual reports so that creditors can understand the recommendations being suggested by the IP with regard to payment levels.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

The income and expenditure breakdown that is being put forward on your behalf will always be viewed by your creditors.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

Good morning,

Yes, your creditors will see a detailed summary of your income and expenditure.


Kind regards,

Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

Credit Today Awards 2007 http://www.credittoday.co.uk/awards/winners.htm

Your income and expenditure will be viewed by all your creditors, which they can then accept/reject/modify.

Best Regards. IVA Experts