www.iva.co.uk

Do you have to supply yearly bank statements when you have your yearly IVA review. If so does it matter that there is a standing order of £100 to a family member which was not included in your budget.

Some companies do, others don't. Depends on who you are with.

I'm curious as to why you are doing this, how long is it for and why you didn't disclose it at the start.

As Kallis says, it depends on who you are with. Even if not at yearly review they could ask for them anytime -- it would be deemed a reasonable request. The whys and wherefors of such a regular transaction might pique their interest though.

If this is, say, supporting a friend or relative and is funded out of your agreed expenses, then it would be deemed OK (but might be later questioned as to how you are affording this). If it is, however, say, repaymrnt of a family loan, this is a no-no as you are favouring a creditors over the others. Whatever it is for, it would be simpler to withdraw the sum as cash each month rather than pay it by S.O.

I could not disclose it as my son in law got a loan which i am guarantor for but he loaned me 1,500 out of it. I pay him £100 a month back. So the best bet is to draw it out in cash each month ! Thank you

It does depend on what the IVA company (your IP) require as part of the review.