I have been in an IVA a few months now and all is going OK so far, I have each month put aside a few quid for Christmas and want to buy just a few small presents for my nearest and dearest. I have a simple bank account that enables me to make online payments - however, will I incur an unfavorable reaction if my bank statement shows, for example, a small payment to Amazon, or am I on safer ground paying my saved cash over the counter in person?
Thanks for any advice, and sorry of this is an obvious question, I'm still quite new to this and don't want to do anything to jeopardize my IVA.
I was just wondering the same thing. I now now almost 12 months into my iva and everything has gone ok (touch wood) !! I have managed to save approx 25-30 per month for Christmas and I am worried that my iva company will start asking questions when I send my bank statements in.
Some stuff i have bought online and them was not pleased with it so sent it back for a refund will they question the number of in and out transactions ??
If you have managed to save some momey for Chistmas that is fantastic. I see absolutely no problem in you buying presents and would not see why anyone would question such purchases through your bank account.
When I review someone's bank statements, I am basically looking to see if there were any extra sources of income and checking that there were no payments to new creditors. As far as I am concerned what you spend your money on is your business and no one elses. The only reason I may question someone's expenditure is if they told me they could not afford the payments to their IVA and there were obvious "luxury" purchases shown in their bank statements.
Kind regards, Elizabeth Pywowarczuk, Insolvency Practitioner.
If you would like me to advise you about an IVA and if appropriate propose one for you, please visit my website at www.liberta.uk.com
I have obtained no further credit and confirm this 100% however sometimes I let my daughter use my debit card and now I'm worried that I've possibly got myself into trouble. You can see on my statement where she deposts £50 in my bank and then uses the card almost instantly to make a telephone payment to one of her creditors. I have never thought about this until now. I've contacted my IP already and hope that I've in no way jeopardised my own situation by trying to be helpful to my daughter! eek Sometimes i just keep the £50 cash and use it for my shopping so the weeks I've kept the cash you can see on the statment there is no weekly shop amount.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
we are due our first review anytime now with DFD, does any one know how many months worth of bank statements they usually require as I can start getting everything prepared for them
We have never had to supply our bank statements??? For the review it was a case of completing an I&E form and providing hubby's most recent payslip.Hope you'll be okay Lesley - should be as you can explain it all.
If they ask for bank statements it'll be for 3 months. I wasn't asked for mine but others with dfd have had to send them. They'll ask for 3 months wageslips, p60, new i&e and evidence of increases over £10.
I had to send bank statements for the f&f which had a few internet transactions on as well as transfers to savings. Nothing was ever said about it though.
Pixie
'Welcome to where ever you are, this is your life you've made it this far, welcome, you've got to believe right here right now is exactly where you're meant to be'
IVA started may 07 ended dec 08
We are with DFD and just got our review papers yesterday for our review on the 27th december and they ask for :
1. Last 3 wage slips
2. Most recent P60
3. If you receive benefits please provide a copy of your latest notice.
4. Last 3 months Bank Statements.
If you don't want your Xmas present to show on the Bank statement, then use a prpaidcard...its that simple or open another account with a debitcard not used to receive your wages.
Its not going to be a problem. Anything you manage to save rom your contingency is yours to do as you wish with.
They only want to make sure theres no regular income that isnt accounted for.
Remember, its almost christmas, even for IPs so they will be completely understanding.
