Incorrect info given to iva

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Ohdear80
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by Ohdear80 » Sun Feb 14, 2016 11:00 am
Hi, this is a long story so bear with me! Last year my father in law had a heart attack putting the business that my partner works in at risk (he now earns minimum.wage and the company will cease to trade this month). I also found out I was pregnant 2 months later. So when my company gave me a bonus I kept it and didn't tell the iva company (stupid I know but I was scared). I've also just looked back at the last income and expenditure I did and realised I have underplayed my income by £400. The weird thing is I mention the £400 in an email I sent to them but for some reason didn't put it on the spreadsheet. I paid the final iva payment in August last year, the only thing g outstanding is my payslips, so all of his will come to light when I send those in. The problem is how to handle it. I'm on maternity leave and do a job where I travel loads so going back early isn't an option. And when I do go back I'll have nursery fees of almost £1000 a month. Oh and my pay slips show that I get expenses paid to me, although as I have to pay for those the month before claiming them back these aren't earnings. Help! I really don't know ow what to do. I have no money and the house I own with my ex husband is in negative equity so I have no assets. And as mentioned before I can't make any payments going forward when I go back to work. I'm worried they'll make me bankrupt, but to what end?? Some advice on what to do would really be appreciated. I know I've been really stupid but fear got a hold of me.

 

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kallis3
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by kallis3 » Sun Feb 14, 2016 11:48 am
Hi and welcome to the forum,

So sorry to hear of your problems and hope that your father in law has made a full recovery.

You state that you made your final IVA payment last year - just curious to know why you need to send payslips in again or is it just that you took a payment break?

 

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Ohdear80
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by Ohdear80 » Sun Feb 14, 2016 12:06 pm
I didn't submit the payslips last year, just some evidence they asked for. They're saying they won't close the iva without them.

 

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kallis3
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by kallis3 » Sun Feb 14, 2016 12:08 pm
Which company are you with? Find it surprising that your IVA is complete with no letter?

 

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Ohdear80
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by Ohdear80 » Sun Feb 14, 2016 12:33 pm
Grant Thornton. I haven't had a completion letter as they haven't çonducted my final review yet (they said they can't without payslips). But I made the last payment agreed last year

 

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lifenoteasy
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by lifenoteasy » Sun Feb 14, 2016 12:38 pm
It should be able to close the IVA based on a P60, evidence of payments to your bank account or any self assessment return.

The IVA Protocol does not make salary slips mandatory.

 

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Ohdear80
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by Ohdear80 » Sun Feb 14, 2016 12:49 pm
Thanks I didn't know that. It would still be apparent that I've earned more than stated. Regarding the bonus, would I have to find a way to pay in all of it or just 50% of it? I assume the figures would be after tax?

 

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lifenoteasy
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by lifenoteasy » Sun Feb 14, 2016 12:51 pm
It will just come down whether that bonus is clearly identifiable.

If it is £400 then only £200 max should be payable to the IVA company.

 

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Ohdear80
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by Ohdear80 » Sun Feb 14, 2016 1:05 pm
Thanks. I think I'll just send them the P60 and see what they say.

 

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kallis3
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by kallis3 » Sun Feb 14, 2016 1:06 pm
And then push them for the completion letter!!
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