www.iva.co.uk

Hi, am new to forum but felt I really needed people in same situation to talk to. Am almost a year into IVA, it has completely changed my life for the better, I no longer waken up in cold sweats, frightened and no idea of how to pay my bills. I still feel hugely ashamed and guilty that I am in this situation but I am and I need to just keep my head downm and work through it.
I am really really worried about annual review, what information will they need fro me ?. bank statements etc I guess. I have kept everything in good order and any extra income I have always submitted 50% as required. I am really worried they will come back and say I need to pay in more money or I have spent money on the wrong things (not sure groceries and essential clothing count as wrong things)...any help or advice gratefully received.

Hi Loucat and welcome to the forum.

Best thing we ever did was enter our IVA. I love the fact that creditors no longer phone and the postman walks past a lot of the time.

As to your annual review, it depends on which company you are with as to what they require. I only have to send in payslips quarterly and my review is done over the phone, but other companies are different.

Don't forget that everything has gone up this year, so make sure your I&E reflects this.

I'm sure you will be ok, and we are here for any support or advice you may need.

Hi Loucat1 and welcome to the Forum.
You have nothing to worry about with the annual review. It depends on which company you are with as to their requirements as some ask for bank statements and others do not. We only ask for up to date wage slips and a P60 to ensure all overtime and bonus payments have been made and to update the income and expenditure. Your IP should have no interest on what you spend your allowances on and the fact you are up to date and fully compliant should make your review very straightforward.

Have a chat to your case manager if you have any queries about specifics but I am sure you will be fine. Your IP will be delighted to have a client such as you, as trust me not all are so organised.

Many thanks for the swift and positive replies. I do feel the the IVA was teh best option for me but the guilt remains. I keep all my info and even made a payement last month of 91p as this was 50% of my extra income !. I am with Simply Debt Solutions, so far a positive experience but interested to hear what others have to say.

Glad you are having a positive experience with them. It's good to see as they have had some poor ones recently.

Let us know how your review goes.

Welcome to the forum from myself too, you sound to me as though you're doing everything absolutely correctly. Glad you've made the right choice as I feel I have to and still have a way to go but we'll all get there in the end. Let us know how your review goes.