www.iva.co.uk

A few weeks ago i received confirmation payments to remain same £158 pm. just received annual report with I&E stating surplus £198 most figures are different to what i told them including income. in the body of text in report it states payments to remain same. is this usual, im a bit confused.

Yes we always had differing figures....the important thing here is to that your payment is still staying the same ....our I&E figures varied somewhat and we always had a bigger surplus then our IVA payment but we were allowed to retain the little extra.

Thanks that is good to know.

Going on past experience the IP just alters your figures to show you can still afford your repayments, they will not try and get more out of you as they know you would start arguing their figures compared to yours, it probably makes life easier with the creditors..

If your surplus income is actually £198, what justification can there be for your IP ignoring an ability to increase payments. I would be careful here that someone does not pick up on this at some stage in the future and ask you to pay higher amounts - and perhaps arrears.

Our surplus is only 160, im not sure where they get 198 except they put my income at 987 but it is actually 694

@Mel
I have just had the same scenario with my IP, they amended my figures so that instead of showing a drop in income of some £50/month it shows a slight increase on last year... I have been chasing them on this and they say basically its tough they calculate the income one way which gives a different figure to me and have amended the expenditure to "fall in line with CCCS/Stepchange guidelines" even though the same figures were ok last year..

They have not increased the monthly payments though they are the same as last year.

Given up trying to argue now and just getting on with making ends meet..

Are you self-employed nickjohn? I agree that expenditure should be in line with the StepChange figures, unless there are good reasons for increased allopwamces, but your income should be as per your wage-slips unless you are self-employed.

Hi Mel, whilst I am not self employed I do work for my own company and pay PAYE and NI through the business..

As it is my own business there are times when work is slow that I do not take as much out of the business, there were times last year when there was only 1 or 2 days work so my income does fluctuate a little bit but not a lot.