www.iva.co.uk

I am due my first review with the ccsva. They have written asking for 3mths payslips, my latest P60, a budget review and 3mths bank statements. It didnt mention bank statements in the initial paperwork so i havent kept them. Is it esential?

Hi, and welcome to the forum.

If CCCS have requested bank statements, then you will have to provide them. If you don't have any, then you can request copies from the bank.

Even if they don't request bank statements, it is generally a good idea to keep them for at least a year before destroying them.

Payplan don't request them, but we don't do paper statements (save the rain forest and all that!)

Environmentally speaking, I do think it is wrong that some companies do request them.

Jan we are with Payplan and our first review will be in June.....our incomes have no increase this year but whilst in the IVA we have worked hard to reduce expenditure e.g.Home and car insurance, heating and electricity, car usage etc. when we get our review form(?) will we have to tell our I/P of the reduced expenditures (which give us a little bit of savings) in order that the extra net income can be given to our creditors??.Thanks

You will probably find that your review is carried out over the phone. We've just done our second one.

You may have made savings on some things, and you do need to put down what you spend on your utilities and car insurance, but petrol, food etc has all gone up. Water rates and council tax will be going up as well, so you may well find that your payments stay the same.

Just be honest in what you are spending. Dont leave yourself short though,remember that creditors have already agreed to what you are paying for things,and also remember reviews are useful to ensure you are still able to make the payments without living on fresh air!!

Paul

Hi
Bob.m asks a very good question.
If you work hard to reduce your expenditure below that originally agreed I feel that you should benefit from that rather than the creditors. Fixed costs that are out of your contriol like mortgage/rent and council tax etc should be passed onto creditors but savings on utilities and insurance etc should be kept by the debtor.
Interested to read Melanies take on this
Regards

I fully agree with you Andy,and expect an ear bashing from Mel!!!

But surely if you had an allowance of say £30 a month for car insurance and managed to get it down to £20 a month in year 2,the tenner a month is yours to keep.

Equally though would it not be fair to say that while you are making these savings it may be unfair to ask for an increase in other ares of expenditure?

Paul

I always advocate complete honesty with income and expenditure reviews, but if you manage to save money out of housekeeping, sports and social and sundry contingencies then I would agree that you should get the benefit of these. Not mortgage reductions, or other utilities or petrol if that ever comes down though!

MelanieGiles wrote:

I always advocate complete honesty with income and expenditure reviews, but if you manage to save money out of housekeeping, sports and social and sundry contingencies then I would agree that you should get the benefit of these. Not mortgage reductions, or other utilities or petrol if that ever comes down though!

Fat chance of that methinks[:(!]

Our petrol is just going up and up.

What's it like north of the border Paul?