www.iva.co.uk

Hi there
We are about to have our 12 month IVA review and I was wondering what the process is and what will we be asked at this review.
Our first 12 months have been a real struggle but we are getting better at controlling our cost each month, and feel any change to the fee's would be hard to stand.

any advice greatly received

Thanks

Special One

Hi and welcome and well done on getting through the first year.

It depends on who your IP is as to what is required. It will almost certainly be your last three months payslips and possibly your P60. Some IPs also require bank statements as well.

Check your I&E to make sure everything is up to date as expenses are bound to have gone up.

Glad you are managing to cope, but make sure you are putting down everything you spend. You should not have to struggle.

Thanks for the information, In addition to our normal payments i have received some additional bonus and a 7k windfall payment from some endowlment policy all of which I sent off to my administrator (payplan)
will this affect the review or even the final iva finishing date.

thanks
Special One

It's unlikely to affect the finishing date unless the windfall means that you pay back 100p in the pound plus fees and possible statutory interest.

Otherwise it means that your creditors will receive a higher dividend.

Good luck try not to stress as long as you do everything you are supposed to annual review time will be fine - the first one is the worst and u will feel a bit better each time but still dread it coming round probably like me. It will be no time before you see an end to it mine ends fairly soon I can't believe it the first year was really tough especially as my mam died when it was approved and I had to make excuses why I wasn't paying for flowers etc the same as everyone else as we have never told anyone about our IVA only my husband and I know as feel we did not want to pass the worry on to anyone else. This last year has also been tough as my husband lost his dad and we could not pay up for flowers funeral etc. Even travelling to see his dad before he died we did not have money for petrol and since then everything possible has broke oven, washing machine, car, microwave, kettle, computer, probably more but I've bored you enough. Can't wait for September but I will probably be in bed with a migraine for weeks in shock that our money will be our money there's no way I'm ever entertaining credit again thank you DFD for dealing with my IVA