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Posted: Tue Apr 05, 2011 3:52 pm
by Stuart.ds
Would a company carry out an annual review with just 2 payments to go on an IVA ???
Just not sure if we should offer a full and final as we have just had our latest review and have just 14 months to go??
Cheers
Posted: Tue Apr 05, 2011 4:06 pm
by kallis3
Hi Stuart,
You probably will have a review carried out before the end, it's just to make sure you've had no windfalls and that everything is ok.
Shouldn't be a problem. Is there any reason why you don't want this to happen?
Posted: Tue Apr 05, 2011 4:56 pm
by MrsKnight
Hi stuart
IVAs are usually finalized with a Annual review at the end, this is to check that overtime/bonus & windfalls have been paid across, pending on your proposal conditions. Also for any increases in Income & Expenditure to ensure your IVA payments were correct.
Posted: Tue Apr 05, 2011 5:18 pm
by James Falla
Hi Stuart
If someone can make a lump sum available on your behalf, offering to settle your IVA early is always a good option. Depending on your circumstances, you could well end up paying slightly less overall and once settled, any future increases in your income, bonuses or windfalls would be yours to keep. Worth bearing in mind if you still have 14 months to go.
Posted: Tue Apr 05, 2011 6:18 pm
by TheMatrix
Yes, there is a final review just before the end. I did mine in January.
Posted: Tue Apr 05, 2011 9:50 pm
by MRBLUESKY
where would the funds for a F&F be coming from.I echoe what James has said,concluding a iva early is a good option.
Posted: Wed Apr 06, 2011 9:41 am
by kallis3
You'll also have to get the person who is providing the money to say where it has come from and that it is only available for a full and final.
Have a word with your IP and see what they say.