www.iva.co.uk

Hello

Can someone tell me the actual point in having a final review. I say this cause I am one more payment from completing my Iva.

I have no equity or ppi and the final review calculations will show my surplus amount for the next 12 months. If for example my surplus doubled what can my Iva company do as I have completed the 5 years.

My surplus wouldn’t of increased that much it’s just a hypothetical question.

Thank

Matt

The final review has to be conducted as an annual review is agreed to take place in the proposal --- and you are in the IVA until such time as the completion certificate is issued ... NOT until you make the last payment.
Also it is there to check on your income for the final 12 months to ensure that any extra income has been declared and accounted for by paying in the correct share due to the IVA. They will not look at your surplus going forward, unless you have a 12 month extension in lieu of equity release.

Imagine they see in your annual review that you received a £10k windfall that you failed to notify them about...