www.iva.co.uk

Can anyone tell me - I have been keeping a record of how much i have paid into my IVA ove the last 2 years 3 months cheque numbers etc - this was the first year a dividend was to be paid out by I believe 26 Nov. (2 months from the originally approved IVA)

Will i automatically get a letter saying how much I have paid to date so I can check it?

I got a letter last year telling me Id paid nearly £500 too much but I didnt get any money back, however my IVA has been transferred to a different company now.

The original company sent me a letter in error telling me I owed £300 in overtime so lucky I kept the letter telling me Id paid too much. I got a sincere apology in writing and confirmation that I did not owe any outstanding overtime monies.

This is why Im worried although i think I may have paid too much again i'm anxious incase they think Ive not paid enough?? I siffer from serious stress and can't stop thinking about it.

help

Hubby used to get a statement every year after his review, telling him how much had been paid in so far.
There should be nothing to worry about if you have kept recoreds yourself.

I would have thought that if you had paid in too much that you should have been allowed at least to have recouped it back from future overtime payments. If you dont pay enough you have to pay it back, same should apply if too much goes in.
Do you ring them each month with the overtime, I do and I work out beforehand what I think it should be and it ususally works out the same.
I do a silly little sort of spreadsheet to keep track of what we earn, our expenditure allowance and so on and work out each month the amount due from this. I put notes under for any rises etc so that they can be taken into account at the next review.
Well done you are doing well. Stop worrying and keep going I am just behind you and just heading to my second review.

Ang xx

You should receive a receipts and payments account with your annual report showing how much has been paid over the last year and cumulative figures to date.

thank you and thanks Ang for being so kind people like you 2 can make the world of a difference with what you say

I dont ring them each month re overtime but do a calculation on a piece of paper and attach it with a cheque - the same calculation that resulted in me overpaying last year as I dont know any other way to do it I work out what income they have based their monthly figure on then give them half of everything else we come out with if we get overtime

have a good weekend

Hi, I was just curious as to what you mean when you use the term 'overtime'? Also, I have never received a breakdown of what I have paid in with my annual review??

The overtime bit a clause built into most IVAs whereas you have to pay 50% of any overtime earned over for the benefit of your creditors.