www.iva.co.uk

i am coming up to my first yearly review. I am with Debt Free direct and my IVA Started on Dec 1st 2008 . When will i start having to get all my stuff ready and what sort of info do they want ? Im a bit concerned as its by first one . It has sure come round quick . Hope the rest of the iva term goes as fast.

Not sure about DFD but normally your IP will contact you a couple of months in advance for the documents. It is not very invasive and the quicker the documents are returned the quicker the review is done.

If there are any new items of expenditure or larger than normal increases in other expenses make sure and send the back up when the main documents are requested.

Michael Peoples wrote:

Not sure about DFD but normally your IP will contact you a couple of months in advance for the documents. It is not very invasive and the quicker the documents are returned the quicker the review is done.

If there are any new items of expenditure or larger than normal increases in other expenses make sure and send the back up when the main documents are requested.

Thanks for your reply. What are the main docs ?

Usually your payslips and possibly bank statements, plus a new I&E form to see if your payments need to be altered.

Thankyou for the reply.

Primarily proof of income such as accounts or wage slips and your P60. You would need to send any proof of rent increases or the like and some IPs request bank statements.

We had to send them bank statements, wage slips, tax credit award and any bills that had increased over the year...i.e council tax and insurances.

All we sent were payslips. We did a new I&E over the phone, hubby was never asked to send in proof of his benefits, no P60 was requested and no proof required of the increase in water rates or council tax.

kallis3 wrote:

All we sent were payslips. We did a new I&E over the phone, hubby was never asked to send in proof of his benefits, no P60 was requested and no proof required of the increase in water rates or council tax.

Are you with Debt Free Direct Kallis ?Thanks to all for their speedy replies

Kallis is with Payplan, CFC1.

Thanks Melanie - I missed that one.

It does vary from IP to IP as to what is required.

My advice is have it ready - and be prepared to show what has gone up over £10......they were very good with us and despite a significant payrise for my husband they did not increase our payments as the cost of living rose in the year ! Being honest andpaying any extra over in the year I think goes well for you at review time........ensure you keep a record of all your expenditure

We are with DFD and they were really good with us at our review in March. I was really worried as had pay increases during the year and also were in the process of trying to include and outstanding income tax bill. They were really good and called within 2 weeks of review date to say all was well and no increase. They also got the tax bill included for us.

I can't see many IVA's being increased at the moment as anyone can see that the cost of living is going up and up.

It is only very rare that we ask clients to increase their payments - and this is generally only as a result of a job change or major change in circumstances.