CreditFix Review Form

[Foggy]

Doritos, I wish you well in your bid to stick to what you wish to provide and will be interested in the outcome. However, failure to comply with a reasonable request from the IP is an acceptable reason to fail an IVA. The definition of "reasonableness" has caused many a ripple in courts.

[mole]

With my company, they have always asked for 1 months bank statements at review time, which seems reasonable to allow a cross reference. I cannot see any reason to take 6 months of statements.

However, even one month is of little value IMO. As my I&E is a pretty fictional in individual item terms.

[vito]

As I'm self employed I wonder if they still want bank statements?

[doritos]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy

Doritos, I wish you well in your bid to stick to what you wish to provide and will be interested in the outcome. However, failure to comply with a reasonable request from the IP is an acceptable reason to fail an IVA. The definition of "reasonableness" has caused many a ripple in courts.

I'll win.. (Working in the legal sector can be very helpful at times)

[Foggy]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by doritos

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy

Doritos, I wish you well in your bid to stick to what you wish to provide and will be interested in the outcome. However, failure to comply with a reasonable request from the IP is an acceptable reason to fail an IVA. The definition of "reasonableness" has caused many a ripple in courts.

I'll win.. (Working in the legal sector can be very helpful at times)

I look forward to the games

( I did 13 years in the legal sector too !).

[hubert]

Doritos - just curious, do you have a particular reason to refuse bank statements other than on principal?

Having just sent in 6 months statements I'm curious what your objection is based on?

I didn't like it much myself but they asked.

[thisusernameistaken]

For me personally, I found the whole IVA process to be very invasive, to a level I'd never had before and with complete strangers. I'm a very private person (no Facebook or other social media and a very light online footprint even if you know who I am) so the whole process was very hard for me - I'd never given anyone as much access or knowledge to me or my situation. However, it was more important to me to get my situation under control. Very few people outside of my immediate family know I'm in an IVA.

It's also one of the reasons why I feel perturbed by being dumped to an unknown firm. I did a lot of research before picking up the phone and speaking to Melanie's team, I selected them to handle my IVA as I saw the feedback here and other places. They handled my case without judgement and helped me get to grips with the reality of my finances and options. I felt I could trust Melanie, and that was important to me. It seems a bit melodramatic to say it, but I feel that my trust in Melanie has been betrayed.

For the last few years I've been happy to provide all evidence of my income. I don't get money from anywhere other than my salary and commission and I submit my payslips immediately showing my extra income and any uplift due. I don't have an issue with that, it's part of what I signed up for.

However I didn't sign up for even greater levels of intrusion from a company and staff I don't know, wanting to pick through the meagre funds I'm allowed to keep.

The problem with refusing is that it automatically looks suspicious; why won't he share the information? What's he hiding?

The crux of it is that this is the last bastion of my dignity. I get to choose how I spend the little I have left and I keep it private. There's nothing shameful on my bank statements; no porn subscriptions or anything I wouldn't want seen. It's the principle for me. It's the last shred of privacy I have when it comes to my finances, everything else has been held up, scrutinised and then terms dictated.

I've not been required to give up that last bit of privacy or dignity since starting the IVA and I don't want to going forward. I've been 100% honest about my income and outgoings, I respect that I'm being given the opportunity to do my best to repay as much of the debt as I realistically can and a large proportion of it will be written off. I'm deeply grateful to my creditors for allowing me to do this and will do everything in my power to ensure the IVA is successful.

For the first time in years, I'd found calm. Balance. Peace, even. It's not been easy (and won't be until it's done) but it's a whole heck of lot better than the other options I had. The last few weeks have seen that evaporate.

I was happy with the way things were; I've been significantly over-paying thanks to improving commissions and I don't begrudge paying in the extra 50% or so from the uplift.

I don't object to the scrutiny of my income, I'm happy to provide copies of DDs with each company listed on my I&E but I'm not comfortable divulging my bank statements.

[doritos]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by hubert

Doritos - just curious, do you have a particular reason to refuse bank statements other than on principal?

Having just sent in 6 months statements I'm curious what your objection is based on?

I didn't like it much myself but they asked.

Its principle.. the whole IVA industry is a filthy dirty mess which is in dire need of proper regulation (things should be the same at all IVA places, as there seems to be a huge air of confusion on most questions that people ask as everyones IVA is run differently, the fact that its a contract weighted against you in favour of the banks with NO legal basis is really annoying, we could go bankrupt, but no, do the right thing and get a kick in the ribs for your troubles.

So my contract was drawn up on 3 months wage slips + P60, so that's how it'll stay, if they want a change then I'll only sign an agreement that I (and my legal team) have written that will specifically exclude reviews from the process, as there is NO legal basis for a review to even exist let alone be invasive like CF are trying on.

Its high time that IVA companies were bought down to earth and realise that they can't lord it about and change the contracts that were setup and running quite happily to suit them even further.

I've got nothing to hide, I'm just sticking to the principles of the contractual agreement that is the IVA.

[ivamess]

Good post, Doritos. There ARE some good people such as those on here, but I feel that I am now in the processing mill and a number rather than a name.
The disconcerting thing is that we were told that nothing would change, but it has.
So, I too will be one sticking with the original T&Cs and, as thisname has said, I am not happy with the invasion of privacy. There clearly is no rule about how many bank statements are looked at and there should be. Different companies, different rules, hence IVA easier for some than others even before we factor in lifestyles etc.

[Shining]

I think a lot of valid points are raised here and I can imagine your concerns. The review procedure as outlined at the commencement of your IVA should remain in place even if you are forced (as we don't' have a choice) into a change of company What they do with their new clients will be up to their clients to agree to at the start of their IVA. All clients sold on to them T&C's and review procedures should remain as per previous IVA Company (in my humble opinion).

[thisusernameistaken]

I agree Lesley. I read through the legally-binding agreement I signed up to and it does not state that bank statements will be required as part of the annual review. The only time I was required to do so - and obviously complied - was prior to commencing the IVA.

I plan to stick absolutely to the letter of my agreement, no more, no less.

[abbiesmum2003]

Well said by thisusername. Put everything i think into words.

[linrog]

i give 3 months bank staements and 12 months payslips to my ip for yearly reveiws to me its the norm no problems into year 4 now

[recovering]

I feel the same but i'm scared of doing anything to rock the boat I suppose,

[vito]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by vito

As I'm self employed I wonder if they still want bank statements?

Answering my own question here. I sent an email but didn't get a reply so decided to call. For reviews they require 3 month bank statements even if you're self-employed.

I expressed my concerns that as a sole trader I don't have a separate bank account. Also, if I have £5 allocated for mags or whatever I may decide to spend that elsewhere.

I might be odd but I just withdraw cash instead of using my VISA debit so they wouldn't be able to get an itemisation of where and what I spent my money on.

Anyone else do this?