Is the date of my annual review the same every year?

Get expert opinion. This is the place for new questions to be posted.
2 posts Page 1 of 1

rhythmb

Posts: 27
Joined: Tue May 01, 2018 9:14 pm

Post by rhythmb » Mon Mar 02, 2020 7:33 pm
Last year at the beginning of March was my first year annual review with Payplan for my IVA which commenced in May 2018, will it be the same timeframe this year?

Foggy

User avatar
Forum Expert
Posts: 31243
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Mon Mar 02, 2020 7:54 pm
The annual review is strictly on the anniversary date of the intial creditors meeting, but the standard terms stipulaste that the results of such a review are sent to creditors within two months of that date. So, some IPs will start early, others run late, a few miss the timescale completely !

A newly emerging trend is for IPs to also insert interim reviews for the purposes of increasing revenue when the debtor has a substantial pay rise, denying the debtor a period of enjoying the whole increase until annual review.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
2 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”