www.iva.co.uk

Hi, this is a long story so bear with me! Last year my father in law had a heart attack putting the business that my partner works in at risk (he now earns minimum.wage and the company will cease to trade this month). I also found out I was pregnant 2 months later. So when my company gave me a bonus I kept it and didn't tell the iva company (stupid I know but I was scared). I've also just looked back at the last income and expenditure I did and realised I have underplayed my income by £400. The weird thing is I mention the £400 in an email I sent to them but for some reason didn't put it on the spreadsheet. I paid the final iva payment in August last year, the only thing g outstanding is my payslips, so all of his will come to light when I send those in. The problem is how to handle it. I'm on maternity leave and do a job where I travel loads so going back early isn't an option. And when I do go back I'll have nursery fees of almost £1000 a month. Oh and my pay slips show that I get expenses paid to me, although as I have to pay for those the month before claiming them back these aren't earnings. Help! I really don't know ow what to do. I have no money and the house I own with my ex husband is in negative equity so I have no assets. And as mentioned before I can't make any payments going forward when I go back to work. I'm worried they'll make me bankrupt, but to what end?? Some advice on what to do would really be appreciated. I know I've been really stupid but fear got a hold of me.

Hi and welcome to the forum,

So sorry to hear of your problems and hope that your father in law has made a full recovery.

You state that you made your final IVA payment last year - just curious to know why you need to send payslips in again or is it just that you took a payment break?

I didn't submit the payslips last year, just some evidence they asked for. They're saying they won't close the iva without them.

Which company are you with? Find it surprising that your IVA is complete with no letter?

Grant Thornton. I haven't had a completion letter as they haven't çonducted my final review yet (they said they can't without payslips). But I made the last payment agreed last year

It should be able to close the IVA based on a P60, evidence of payments to your bank account or any self assessment return.

The IVA Protocol does not make salary slips mandatory.

Thanks I didn't know that. It would still be apparent that I've earned more than stated. Regarding the bonus, would I have to find a way to pay in all of it or just 50% of it? I assume the figures would be after tax?

It will just come down whether that bonus is clearly identifiable.

If it is £400 then only £200 max should be payable to the IVA company.

Thanks. I think I'll just send them the P60 and see what they say.

And then push them for the completion letter!!