www.iva.co.uk

Maybe? Maybe not?

Having been speaking to PP about an IVA I am told they will need (for my OH):

Payslips
Mortgage Statement
Written evaluation of the House value
ID - like passport etc.

Also V5 for the vehicle - to show it is MY vehicle (which it is!)

Is this all they will need or will I need to be contacting people all over to get other docs etc???? Sorry, I have rung PP umpteen times and still waitinbg a call back
Stell x

hi stell we had to get credit card bills, loan agreements, our payslip, bank statements etc.. proof of tax credits etc.. hope this helps answer your not so stoopid question..

i had to provide them with bank statements showing hubbys wages didnt want his payslips. didnt have to supply valuation as PP got that done as part of proceedings. I had to email them a short summary of why and how I had got into my current situation to support IVA. I also had to have a telephone conversation with their R3 to explain ins and outs.
Also a mortgage redemption figure, i had a statement through the month before, so this sufficed.
Hope this helps.

i needed bank statements, mortgage details, balances on all credit and loans, i.d, proof of earnings, house valuation

Hi stell

It does vary from company to company as to what doccuments they will need, but if you get payslips, 3months bank statements, mortgage/rental papers, latest credit card/loan statements and anything else relevant you can think of ready.

I would ask why they need YOUR V5?

I am sure an expert will pick up this post later and clarify as to why they would need this.

Emma x

by the way stell, no question is ever stoopid!! as this is a big step and you need to be as cludded up and informed as possible as this is typicaly a 5 year arrangement - never feel stupid for asking loads of questions and make sure you are fully satisfied with the answers[:)]

I like the proof of identity bit!
If there's anyone who would like to impersonate me and pay off my debts............

We had to send our V5 off as well, think it's to prove that you aren't pretending to have a car [;)].Also had to send off photocopies of passports, think this is just to cheer them up by having a laugh at our baba photos.

Seriously, we too had to send all this off, as others have said, it just depends who is dealing with your proposal.

Stell ... I know it's a pain, especially when you have a busy life as well to contend with. My firm of IPs were pretty thorough wanting to see all kinds of documents that I had to fish out and spend time pulling together ... but they tied up a really effective and thorough IVA for me for which I have since been most grateful ... so go for it, it really IS worth it.

Debbie

I would not ask for a V5 - but we do tend to trust our clients to be truthful about car ownership, which in itself is generally immaterial to the outcome of an IVA.

I had to submit my V5, the IP has hung on to it, i never questioned why, i just assumed it is to stop me selling the car?.

Never thought of doing that! They obviously don't trust you OT, but as cars are usually excluded assets it is yours to sell in any case.

I have that kind of face Melanie.
I have no intention of selling it as it's worth twice as much when the petrol tank is full!.
I say a little prayer every time the MOT comes round.

I think it is to prove that the vehicle is in my name and not his - but if it isnt an "asset" doesnt make any difference.
Thank you all for this info, yes they have asked for his passport aswell, as somebody else said!

But as suggested in my other Thread I am now again thinking long and hard about all this - it is complicated as the debts are in o/h name not mine and we have nothing jointly except the mortgage. But originally PP made me put my earnings and expend on the I & E calculation because it was complicated working out who paid what otherwise.
Stell

Your partner's creditors will beleive that you will have benefitted in some way from his borrowings - whether you have or not! And they will expect your disposable income to be included in the offer made to creditors for that same basis.