Hi all.
Me again....
I'm very close to my first annual review (can't believe how quick the year has gone).
What sort of things am I expected to need for this? I can do another I&E, although the only change from last year will be the huge increase in petrol. Everything else is pretty much the same.
I'm with Mel, so I'm sure I'll be in safe hands, but it's all a little daunting again. Is it normally fairly straightforward or is it as tough as the initial application process?
I have to send in past 3 bank statements, 3 wage slips & P60.
As regards petrol increases, I am sure your IP does not need proof that the cost of fuel has increased dramatically over the past 12 months, they are in the same boat on that score i would think
I'm with Mel and no bank statements have been required from myself to date. New I&E, P60, payslips should already be there, I'm sure it will go smoothly for you x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
lesley_ wrote:
I'm with Mel and no bank statements have been required from myself to date. New I&E, P60, payslips should already be there, I'm sure it will go smoothly for you x
Thanks Lesley. I've had a VERY quick reply from Mel now...I'm all happy because I've kept all my payslips etc since I set this up.
Melane is soooo good with her replies. I always get a reply quickly. If Carlsberg did IP's.....etc.... [:D]
Just can't believe it's nearly a year already.
Next month, will see my payments left dip below the 50 barrier. Unbelieveable how quick the last year has gone....(not that I'm wishing my life away)! LOL.
Time does appear to fly within an IVA I do agree and I further agree about Mel, she and her whole company are amazing. Saturday afternoon Mel mailed me and she really does go above and beyond the call of duty in my opinion.
It's nice watching the tally come down isn't it? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
lesley_ wrote:
Time does appear to fly within an IVA I do agree and I further agree about Mel, she and her whole company are amazing. Saturday afternoon Mel mailed me and she really does go above and beyond the call of duty in my opinion.
It's nice watching the tally come down isn't it? x
Very much so...though I think it'll go quicker once I get over half-way!!...
I'm actually finding that mine is slowing down now - as I will have to extend for a further twelve months I'm just coming up to half way and it seems to be going on forever.
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
kallis3 wrote:
I'm actually finding that mine is slowing down now - as I will have to extend for a further twelve months I'm just coming up to half way and it seems to be going on forever.
Why do some people have to extend? That's not something I've grasped the nettle on?
It's to address the fact that those with equity in property cannot remortgage to release funds to be paid into the IVA, as is usually agreed at the outset.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Just wondering why some IP's require bank statements, and yet some dont?Do you think they want to clearly see what your spending your income on and for them to see if they can squeeze a little bit more out of you!!!![:D]
We e-mail all our wage slips every month for them to work out the figures.
There seems to be lots of ways to run these IVA's,it would be nice if perhaps in your proposal it stated what documents would be required every year for your assesment.
Just a thought.
Have just checked my proposal - says P60 and wage slips required for annual review. They would be welcome to my bank statements too to show my expenditure but I know what you mean Baldy!.
I wouldn't imagine they would scrutinise them that much - but I will see for sure at the end of this year!. I any case, my salary is due to fall by as much as £100 pcm at a time when everything is going up so I am fairly confident that my payments will be reduced if anything!.
My wage slips get sent in every three months. I have never yet sent in a P60 as my yearly earnings and outgoings are on the bottom of my payslip.
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
My IVA was extended for 12 months as I couldn’t raise my share of the equity in our house. It’s a much better option as the additional 12 months payments will be less than the equity. However, I now have two years to go this June instead of one. The first 4 years seemed to have flown but when I look at the next two years its seems to be never ending. Living like a pauper is difficult and I know it will be worth it in the end but the light at the end of the tunnel hasn’t appeared yet!
Hey sensible,i think paying an extra 12 payments in lieu of equity is a very good option, providing you have a fair amount of equity in the first place!
With regards to your two years to go, you have cracked it!!!!. I would be looking at a very bright light at your stage. I really think there are loads of people out there really struggling with debt and we have decided to get it sorted. Just think 24 more payments to go then thats it. Thats two more lovely summers to go![8D].
Its very hard to comment on indivdual cases but you shouldnt be living like a pauper, but we all have differant views on how we should be living i guess.
Your next two years will fly dont even think about it enjoy the summer and soon you will be Debt free and thats amazing in this climate.
Very best of luck.
