www.iva.co.uk

Hi guys im new to all this and really struggling yes finally admitted defeat and applied for a iva but i have currently been looking and my forms and they have bodged all my expendatures my income is wrong my outgoings are wrong and stuff is added on not giving a true reflection of my situation this is causing a major concern cause when i have worked it all out i have got the funds to pay for the iva

Hi Scott,

I would make your income and expenditure form details based on what they actually are.
What I would say however is that some bills fluctuate ie mobile phone or utility bills, and although you may feel you do not need clothes right now, or an allowance for social activities, I would suggest that you consider whether you definitly will not need an allowance for those during the course of the iva.

An iva can be very challenging at times and sometimes those little extra allowances can go along way to helping you.

If you are in doubt, perhaps give your company a call or look around for another IP company if you are not happy.

Hi and welcome. Your income and expenditure should reflect your actual situation, or in my humble opinion, you may struggle and be set up for failure.

Have you spoken to other companies? Always best to talk to 2 or 3 and gain that all important case specific advice.

How far are you down the line with this company, is it possible to gain the advice of someone else?

The IVA is a long journey and sometimes challenging as Mrs R rightly says, so to get it right in the first instance can often reduce the problems later in the IVA

Speak to a couple of companies. The advice Mrs R gives is good --- there will be things you might not use every month, but will be used --- have you asked for a few quid for prescriptions for instance ?

Some bending of expenditure is acceptable to keep realistic expenses within guidelines, however, total fabrication is a recipe for disaster. Manipulating income is a total no-no and can lead to all sorts of problems at reviews when you, suddenly, cannot substantiate your figures.

Hi thanks for the replys up to now been on phone with the company in question they have confirmed they have made a few mistakes after listening to the previous recorded calls regarding my incoming and outgoings and any issues will be rectfied but still concerns me cause i have done plenty of reserch before opting in for a iva and could lead to failure which is not somthing i want to happen as this is my only solution to my debts really and if i had to go elsewhere how can this be stopped with this company as my meeting with my creditors is in 2 weeks thanks

If you are not happy with your choice of IP you can change.

You would notify the IP and tell them to cancel the meeting. The new IP would then pick up where they left off and call a new meeting.

It might annoy the creditors a little but best to decide now before you are tied down with an IP firm you are not happy with as you cannot change them afterwards.

Was it just the I&E figures they got wrong or have there been other issues?

Who is the IP firm you are using?