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lowe7447

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Post by lowe7447 » Sat Aug 07, 2010 9:36 am
My wonderfull IVA company (who will remain name less for the time being) have just wrote to me stating "If you fail to return the required documents within the alloted time, I will have no other alternative but to issue you with a Notice of Breach. This could lead to the failure of your arrangement and ultimately the possibility of creditors requesting to pettition for you bankruptcy."

The information that they require is wage slips for the periods November 2008 till April 2009, August 2009 to July 10. Ever since we started the IVA (august 2006) we have completed an annual review. At this point we have sent information for a minimum of 4 months (bank statements and wage slips for both of us). Every year without fail they have told us that we need to pay more money in. This is with my wife taking a 10% cut in wage to keep her job. Every time we get letters from these guys its threatening bankruptcy. So we phone up and get it sorted. I thought that an IVA stopped threatening letters yet its these sending the letters. Im about to send my IP an email stating my concerns. We now have a wonderfull weekend ahead worrying about this letter. We don't have ALL the information that they require.
We have worked our butts off for the last 4 years. Had some very hard times and always paid. Struggled with every review and had increases imposed on us. Sick and tired of this with the end nearly in sight.

Any advice and input welcome.

Thanks

Chris
 
 

Shining

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Post by Shining » Sat Aug 07, 2010 9:42 am
Hi Chris, that certainly doesn't sound like good client care. Is that a clause written on all letters of request from them do you think? does your IVA company post on the forum? I realise you don't want to name them at this stage...

Try not to worry although I know that is easy for me to say, one of our professionals will be along soon I'm sure to offer some excellent advice. Can the information they require be obtained by way of bank statment assuming the salary was paid into the bank if you no longer have the wage slips?

xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

lowe7447

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Post by lowe7447 » Sat Aug 07, 2010 9:46 am
For some of the information that they require we have sent bank statements instead of wage slips. They don't seem to want this. I'm sorry but we don't keep information that is over 12 months old.
 
 

Adam Davies

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Post by Adam Davies » Sat Aug 07, 2010 9:48 am
Hi
Your IP has a duty to check both your incomes however I do agree that threats of failure are a bit over the top.
Can you get the required info in time ? are your wages shown on your bank statements ?
Your payments each year should be equal to the disposable income that you show when you fill out your annual income and expenditure form
Regards
Andam Davies
 
 

Julie

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Post by Julie » Sat Aug 07, 2010 9:55 am
Chris - surely your IP would accept P60's to confirm salary. If not your employer can produce copy payslips.

I would email a complaint to your IP direct, as the threats are not acceptable. I understand you not wanting to name the company, but sometimes it does help as one of the professionals may be able to assist.

Well done for getting so far and please keep us updated. xx
 
 

lowe7447

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Post by lowe7447 » Sat Aug 07, 2010 10:57 am
Andy Davie wrote:

Hi
Your IP has a duty to check both your incomes however I do agree that threats of failure are a bit over the top.
Can you get the required info in time ? are your wages shown on your bank statements ?
Your payments each year should be equal to the disposable income that you show when you fill out your annual income and expenditure form
Regards
It is very unlikely that my employer will have all this information left as we have recently changed programs. My income/ salary is paid directly into my bank account so this information is on the statement. Our last review was August 2009 and our payment was increased even though my wifes income had been reduced by 10%. We complained but paid the extra. So they have made a review for the period that they are requesting. Our next review is now due. I think hence this letter. I have sent letters stating my annual salary but they want wage slips. I don't want to waste 4 years of payments. I have now got a Little equity in my home (due to last 4 years of payments) which would probably mean that I would lose my home in bankruptcy. Plus having another 5 years of struggle ahead.

Oh and I couldn't tell you the last time I got a P60.
Last edited by lowe7447 on Sat Aug 07, 2010 10:58 am, edited 1 time in total.
 
 

kallis3

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Post by kallis3 » Sat Aug 07, 2010 11:13 am
I thought that you had to be provided with a P60 by law? I do stand to be corrected on that one though.
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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kallis3

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Post by kallis3 » Sat Aug 07, 2010 11:17 am
This is from the DirectGov website:

Tax codes - the basicsP60
Your P60 is the summary of your pay and the tax that's been deducted from it in the tax year.

Your employer should give you a P60 to keep as a record at the end of every tax year (which runs from 6 April to 5 April the next year). If your employer doesn't give you a P60 at the end of the tax year, ask for it - you're entitled to it by law if you are still working for the employer at 5 April.

You might need it:

•to complete a Self Assessment tax return, if this applies to you
•to claim back any tax you've overpaid
•to apply for tax credits
You may also need it as proof of your income if you apply for a loan or a mortgage - so it's important to keep all your P60s safe
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
 
 

Shining

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Post by Shining » Sat Aug 07, 2010 11:18 am
P60
Your P60 is the summary of your pay and the tax that's been deducted from it in the tax year.

Your employer should give you a P60 to keep as a record at the end of every tax year (which runs from 6 April to 5 April the next year). If your employer doesn't give you a P60 at the end of the tax year, ask for it - you're entitled to it by law if you are still working for the employer at 5 April.

You might need it:

•to complete a Self Assessment tax return, if this applies to you
•to claim back any tax you've overpaid
•to apply for tax credits
You may also need it as proof of your income if you apply for a loan or a mortgage - so it's important to keep all your P60s safe.

The above taken from directgov, maybe Julie can comment on the law of P60's? xx
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Sat Aug 07, 2010 11:21 am
Great minds think alike Lesley!
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
 
 

Shining

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Post by Shining » Sat Aug 07, 2010 11:25 am
Oh scary Jan!
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Julie

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Post by Julie » Sat Aug 07, 2010 11:55 am
[:D] Jan & Lesley - great minds [:D]

Your employer has a legal duty to provide a P60 if you are still working for the employer on 5th April - contact HMRC office if you are not being provided with the P60.
 
 

IRHR

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Post by IRHR » Sat Aug 07, 2010 12:01 pm
Hi, I do know that by law payroll records should be kept for 3 years but it is recommended they are kept for 6 (you have to keep tax records, codes and tax deducted, for 6 and the two are obviously linked)
However a similar situation happened at a company I do some work for in that they changed their payroll system and couldnt easily retrieve individual records for previous tax years. We needed the info to defend a tribunal claim but it turned out cheaper to pay the claim than to get specialists in to retrieve the info. It was an expensive lesson for them so I suppose it depends on how good lowes 7447's employers are at backing up and storing info but they should certainly by law be given a P60 every year!
 
 

kallis3

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Post by kallis3 » Sat Aug 07, 2010 12:09 pm
I would certainly challenge the employer about this.
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
 
 

lowe7447

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Post by lowe7447 » Sat Aug 07, 2010 8:51 pm
I have 1 small problem. I work for a company who has just experienced a rather large fire. And it is currently taking them for them to process things. So 2 weeks may not be enough. of Which I have lost 2 days due to getting the letter on Saturday. Just disapointed that after 4 years of faultless contributions I have had it all thrown back in my face.
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