www.iva.co.uk

Not as bad as title suggests! We are currently in our second year of iva. Occasionally we like the odd flutter on online bingo, not very often as never really have money to spare but as we dont go out or go on holidays its the only thing we seem to be able to manage as a way of escapism. Only thing is i have recently been wondering what view our ip would have of this when looking over statements that you send at review. If for one second I thought it would affect our iva i would stop straight away. Hope no one judges me for this! Please any advice would be greatly appreciated.

Hi there and welcome to the forum

If you are funding this out of your usual allowances, then I cannot see that there is a problem, but do be careful as this can get addictive, and any winnings would have to be declared to your IP and paid over as a windfall.

The odd modest flutter is rarely a problem, and who knows - your creditors could be the ultimate beneficiaries in which case your IP will probably be delighted!

Thanks melanie. Think might stop anyway, would break my heart if won and had to give it away!! Can you tell me, at review, do you need to send in bank statements and payslips? Im terrible at organising and am missing some statements but have most of our payslips. Also our mortgage has dropped in price but i now have nursery fees to pay so no difference in outgoings do i need to advise ip of this or wait til review. So many questions!!

I keep forgetting things! When you finish your iva how do you go about rebuilding your credit file? We are just under two months behind with mortgage too as had massive car repair bill so am worrying about what that is doing to our credit report. Northern rock have been quite good suprisingly but worried about impact it might have on iva if any. Sorry for jumping about question wise!

Some IPs will ask for bank statements, I don't personally unless there are exceptional circumstances, but most definately the last three months wageslips and your last P60.

If your mortgage reduction is countered by increased nursery fees, there is no need to advise your IP of this now - save it for the annual review.

Hi melanie, think our messages passed each other. Do you have any advice re last mess

The fact that you have mortgage arrears has no effect on your IVA, so long as you can continue to meet your IVA contributions, just try and get them paid off as quickly as you can.

Your credit rating will begin to repair itself six years after the date of your initial creditors meeting, when reference to the IVA drops of the Credit Referencing Agencies records.