www.iva.co.uk

Hiya , I'm just finishing my 7th year in a iva ,this do to have to reduce my payments early in my iva which forced am extra year and then having just over £5000 in equity in our property which we have paid that amount over 11 month ,now we have been asked to do income expenditure forms again and I am worried sick that if our excess income is more than expected that they could force another year ? I think this would be extremely unfair do to the fact that the only reason we paid a 7th year is do to equity if you could please advice were I stand on this matter I would be more than grateful as its getting me worked up thank you

Hi,

It is common to complete a final I&E - it's usually just to check that all monies have been paid across.

They won't force you to pay an extra year otherwise we'd all be paying that!!

Hi Russell

This is just the normal one to make sure you haven't had any extra monies that haven't been declared etc - overtime.bonuses payrises etc.

As long as things haven't materially changed you shouldn't have an issue.

I didn't realise that you had to complete income and expenditure form once you'd paid your final year and can't see the point. Obviously bank statements and pay slips to confirm that all monies have been declared. Strange one!

It's just as Lisa says - make sure that no monies are due.

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by footiemad

I didn't realise that you had to complete income and expenditure form once you'd paid your final year and can't see the point. Obviously bank statements and pay slips to confirm that all monies have been declared. Strange one!

The Bank statements and pay slips should support the I&E. Not all IPs ask for Bank statements so without the I&E have no idea what a debtors disposable income looks like.

I never had to submit bank statements at all but did do a final I&E and so did my husband.