www.iva.co.uk

we have just finished doing our review paperwork...took all afternoon...my neck aches from leaning over desk.!!! OH gone into his work now to p/c everything before we send off

opinion please....i am self employed and my monthly net income varies....so we average it by just dividing the annual income by 12....

this year our combined monthly salary has gone up almost 400.00..on average.....we have asked for an increase in several areas.eg petrol...housekeeping and supported this with receipts...plus we have asked for the house insurance and the dogs insurance to be taken into account as for some reason they never were originally and we have been using h/keeping etc to pay these...we have incluced p/c of documents etc to support this

there is still a surplus of approx 150.00...so i guess normally our IP. would be looking to include that in the IVA BUT.......from end of september my income will be reduced by approx.400.00.....i am a childminder for children with special needs and one child leaves my care after 4 years to go to school.....i have also included a copy of the resignation letter from his parents to support this

so...do you reckon the IP will leave everything as it is as there would be no point in increasing the IVA only to look to decreases it several months later....

hope all this makes sense???

we are almost 2 years in...last review went through no problem and we have not had any problems with paying etc...so we are good standing ...the only difference this time round is we have a new IP...being self employed like this if a child leaves my care and i am not able to fill vacancy etc it does mean my income can fluctuate

opinions please??

Hi
You need to ensure that your IP is aware of your income decrease after September.
Do you think that you will fill this vacancy quickly ?

thanks andy...we will send a covering letter explaining this...in the world of childminding vacancies are a law unto themselves and because i specialise they are not quite so easy to fill...but once i get a child i usually have them for a long time..

one child i have had for 10 years and another is now 20...he came back to me when he left school.......so its variable

but
do you think it will be favourable?

I am sure the projected reduction in income will be taken into account by your IP if this is explained properly in a covering letter.

When our original proposal was put together it took into account a forecasted drop in Child Tax redits after 8 months that we had been told about... so our 1st 8 payments were higher and then after that they dropped to account for the reduction in our incoming...

So presume they could do the same for you at review? Although only at the start so not sure but guessing from what they did for ours it must be possible [?]

thanks...will be wording the covering letter over next few days....will keep you posted