My annual review

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ray428

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Post by ray428 » Tue Aug 10, 2021 2:45 pm
My annual review has always been October which was when the IVA was agreed. I have received an email asking for my bank satements payslips and p60 which is two month before the review should be done. Do I need to provide this information at this point or can i wait until the October date. And why would they change the review date.

Foggy

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Post by Foggy » Tue Aug 10, 2021 4:11 pm
You are bound to comply with reasonable requests and an IP can reasonably request anything related to your finances at any time. The annual review has to be completed within two months after the anniversary date. I imagine that they are simply getting a head start as things are taking longer these days due to the pandemic spanner in the works.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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ray428

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Post by ray428 » Tue Aug 10, 2021 4:26 pm
Thanks for that Foggy. Could I ask. Why do they always ask for bank statements. Does it matter what I spend my money on.

Foggy

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Post by Foggy » Tue Aug 10, 2021 4:29 pm
They are looking for any unexplained deposits ( income) and confirmation of things you have an expense allowance for ( mortgage / rent / insurances / utilities etc.). General day to day expenditure is not usually examined.
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

ray428

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Post by ray428 » Tue Aug 10, 2021 5:00 pm
Are they allowed to demand shopping receipts. I was threatened with this on my last review because I challenged a payment increase. Sorry to ask so many questions. I do not trust the IVA company that is currently administrating my IVA they come across as bullies.

kallis3

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Post by kallis3 » Tue Aug 10, 2021 5:04 pm
They shouldn't need to ask for receipts at all unless there is a large purchase in your bank statement. The only thing I had to provide proof of was an estimate for a new boiler when I requested a payment break. Can I ask which company you are with?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
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ray428

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Post by ray428 » Tue Aug 10, 2021 5:07 pm
The dreadful Ebenegate

kallis3

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Post by kallis3 » Tue Aug 10, 2021 5:17 pm
Oh - not one of the best. If they try it again, threaten to make a complaint to their regulatory body. Does sometimes work.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Tue Aug 10, 2021 5:37 pm
It is reasonable to ask for receipts for large purchases but only if the expense exceeds your agreed allowances, or to prove an expense such as petrol. As for general shopping --- how many of us keep receipts for the grocery shop ?
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

Foggy

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Post by Foggy » Tue Aug 10, 2021 5:38 pm
Ebenegate are not responsible for your IVA -- that still falls to your appointed IP. Ebenegate is just an admin centre who shuffle the paperwork.
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

ray428

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Post by ray428 » Sat Aug 14, 2021 4:48 pm
My pay day has recently changed and inorder to not default on my bills and IVA payment I need £1000 to help me through to my next payday.
Can my wife who is not part of an IVA borrow money from the family to help me out. I am aware that I am allowed to borrow upto £500 as part of the terms of my IVA.

Foggy

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Post by Foggy » Sat Aug 14, 2021 5:27 pm
If your wife does not have an IVA of her own she can borrow the money and pay some of the expenses on your behalf. No business of your IP as it will remain her debt.

Incidentally - take care around that "allowed to borrow £500". This sum can easily already be eaten up by credit meters for gas and electricity, phone contracts and monthly paid car insurance and the like if an IP wants to be picky.
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
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