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rebeccadjcolley

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Post by rebeccadjcolley » Sun Mar 15, 2009 7:56 pm
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I have completed the first year of my IVA and am struggling to provide income and expenditure details which the IP has requested.

What would happen if I were not to submit this? Would payments continue at the same current rate or would the IVA fail?
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kallis3

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Post by kallis3 » Sun Mar 15, 2009 8:08 pm
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Hi,

Why are you struggling to provide these details? What exactly is the problem?
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
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rebeccadjcolley

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Post by rebeccadjcolley » Mon Mar 16, 2009 12:47 am
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My income has increased quite substantially since last year which I can provide evidence of due to payslips etc but my travel costs have increased which I have no evidence of, plus the cost of utilites and food/house basics plus clothes.

How will this be taken into account and will my payments increase by 100% of my increased wage?
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David Mond

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Post by David Mond » Mon Mar 16, 2009 6:50 am
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Well you will need to explain why your travel costs have increased and why you cannot provide evidence of same. It is then up to how you explain things to your IP.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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kallis3

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Post by kallis3 » Mon Mar 16, 2009 11:10 am
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If you travel by car to work, then you can get petrol receipts to show how much fuel is costing you, and if it's public transport, then just keep the tickets. This will prove how much those expenses have gone up.

As for food etc, again, if your IP company want them, produce supermarket receipts.

They shouldn't want all of your payrise, possibly a portion of it, depends if your disposable income has risen.
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
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