Annual Review

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u769325

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Post by u769325 » Sat Sep 04, 2010 11:33 pm
Just been through my annual review and submitted latest expense sheets. My original assesment was too low and I have been using funds from a second job (under 10% of main income) to keep thing running.

All I have been offered to reduce the payments but extend the terms of the IVA by a further 9 months. This seems a little crazy to me. The IP seems adament they do not want to go to creditors as they will only want to see further funds.

I cannot get copies of the income and expenditure that was eventually agreed only what was proposed.

Has anyone else any similar experiences
 
 

Shining

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Post by Shining » Sun Sep 05, 2010 3:59 am
Hi, I have read about an extended IVA before, do you have to return a guaranteed dividend?

One of our professionals I'm sure will be along at some point to advise accordingly. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

plasticdaft

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Post by plasticdaft » Sun Sep 05, 2010 9:28 am
You should have been given a copy of what was agreed expenditure wise. What firm is it you are with?

Pretty common practice to extend the IVA if payments are reduced to ensure a minimum dividend is returned to creditors.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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