Hi All
As my AR is comming up I am worried that as my income has risen so has my expenditure. When calculating how much extra i will be require to pay will my IP calculate from my new I&E or my previous one as there will be a difference. Just hope its not too much more than i've budgeted for
Andy
im doing mine too and on paper i have a spare £150 must be missing something as i not got any spare cash and my husband salary has gone down !! although mine gone up a bit but no true reflection i just did some additional hours when we short staffed in april and may but our iva company had all payslips
Hi
Ask your IVA company for a copy of your last income and expenditure form.
Whatever your new disposable is this will be your new payment, unless it has reduced and if this is the case your IP may have to go back to your creditors for agreement.
Regards
Hi
My monthly payment will rise slightly, Im more concerned about my overtime payment and to how this will be calculated as i have
budgeted on the income figure for this year wich is higher than the previous year
We keep ours, plus we can use the Justabank facility on Payplan to check up on it as well.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Im with DFD & for some reason on this years I & E review they have sent me my original I & E proposal form to put down my I & E update figures on, I would have thought that they would have sent me last years I & E form to compare this years I & E figures because there is going to be a big difference to the original.
Does anyone with DFD have the same sent to them, perhaps DECLAN from DFD could tell us more please.
Hello PM5 - I remembered Declan answering this same question back in August as I am also with DFD - Here is a 'copy'and'paste' of his reply below:
"The reason for sending out the original income and expenditure is to ascertain how much difference there is to your current income and expenditure to when you entered the IVA.
Previous reviews will always be kept on file and used if needed.
However, when competing a review it is essential we use the original details to compare the current situation to ensure you are able to maintain the original contribution that was agreed at the meeting of creditors. It also aids the reviewer to ascertain a new contribution against the original if necessary (lower or higher).
If you wish to have a copy of the previous year's review this can be issued by request"
Hi
I can't see the benefit of having the original income and expenditure form unless it is the first annual review ? Surely last years I&E would be better
Regards
I'm rather chuffed as our payments have gone down a fair bit. Not suprised though as we were struggling a bit. We also had the original I&E form to look at and ammend.
Ours was done last year over the phone. Be interesting to see what happens with the next one. I shall be using last years I&E for comparison unless told otherwise.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I too agree with Andy - On a different point, there is an interesting article in todays' edition of the Sunday Observer, all about IVA's and is available to view online at this link below: http://www.guardian.co.uk/money/2009/no ... ts-failure
