are iva reviewed every year?

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craig123

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Post by craig123 » Mon Apr 14, 2008 9:39 pm
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are iva reviewed every year?if so will they change the payment every year?
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pm5

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Post by pm5 » Mon Apr 14, 2008 9:42 pm
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Normally IVA's are reviewed each year, this means all income & expenditure is reviewed.
It dont mean to say your payments would increase as sometimes any wage increase could be offset by increased expenditure.
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MelanieGiles

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Post by MelanieGiles » Mon Apr 14, 2008 10:17 pm
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In my portfolio, we increase client payments each year in less than 5% of our cases. This is largely due to the fact that most people only get inflationary rises, and the cost of living has soared over the last 18 montbs.
Regards, Melanie Giles, Insolvency Practitioner
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