www.iva.co.uk

I am currently in an IVA and have been in for almost two years. I am now filling out an annual income and expenditure though this time im being asked for p60 / 3mnth pay slips and last 3 months bank statements.

I am not happy in giving bank statements. My Partner deposits mooney in my account for me to save to her and therefore have to explain all of this.

My IVA states my contributions will be checked each year with help of p60 and payslips. No mention of bank statements. I would have not let my partner use my account to store money if i new my IP could start looking through all of this. This is not what i signed! happy to give payslips and p60.

According to my better half we have never sent bank statements to our IVA supervisor (Bridgestones) apart from when the IVA was first arranged.

They certainly didn't ask for any bank statements at the time of our last annual review.

Some companies do ask for bank statements.

Whether or not you can refuse Graham, I don't know. Hopefully one of the experts can come along and advise about that.

Your IP generally has the right to demand you to produce whatever paperwork they deem necessary to perform their review Graham. Personally I don't ask for bank statements, but I know other IPs do - but as you have clearly explained what the transactions relating to your girlfriend are, what is the main objectyion to producintg these documents?

I am very greatful for your replies! My partner depositing money is just the icing on cake. I accumulate money from my allowances then spend them or draw in cash or put towards sky etc and live otherwise on a show string. So many questions I dont have time to answer/justify. Never was i told bank statements would be required or asked for. Never have i signed anything apart from my IVA saying that an annual income and expenditure with p60. If i point blank refuse to tender these docs, what rights have they got to force me to supply?

Hi
If you refuse then they could fail your IVA for non compliance.
Regards

How am i failing the IVA? Im being asked for something that i have never said i would tender? Im keeping to the IVA exactly. Im just ensuring that im not being asked for something that i never agreed to. Or skys the limit with what they could ask for

As Melanie says your IP can ask you to produce whatever they need to perform the review.

I'm sure if you explain as you have here that there won't be a problem. It's not worth risking failing your IVA this far in.

Neither Andy nor I have the full details of your particular IVA to hand, so we cannot really advise fully. If the IVA document does not refer to bank statements then you may have a point, but most IVAs would stipulate that you are obliged to provide such details as the IP may reasonably require. Bank statements would be deemed to be very reasonable.

If you don't provide them, your IP is only going to be suspicious why you won't release them - and from what you say you have nothing to fear or hide. I would send them on and get the review over and done with.

Hi
The IP has a duty of care to your creditors, and to you, they need to check that income and expenditure is accurate and they are quite within their rights to ask for bank statements. People could receive a windfall and not declare it, the IP may trace this by asking for bank statements. I am not suggesting that this is your case but just explaining why they may need to check statements occasionally
Regards

we all have extra's in outside our I&E that we pay from our allowances by way of saving a little here and there etc. Equally I get my travel reimbursed for work when I go out on visits to other offices - this more than covers my additional petrol and the extra we get to use ...albeit it on average £3-£5 a week a treat every now and then......in an IVA you should be open to supplying anything asked of you - if you explain all your IP will I am sure understand !

I'm no expert, but I tend to agree with the experts!

If you refuse to hand over your bank statements it's only going to cause your IP to suspect that you have something to hide or that you are not declaring a windfall or another income that you have not made them aware of.

I'd hand the statements over with an explanation concerning the money from your partner and take it from there. I can't see you doing yourself any favours by refusing to provide the bank statements.

Ok, well thank you all for your input. I think the general consensus is that I should surrender bank statements. It is quite annoying as i would have kept my bank account 100% in check to save all the hassel of justifying so many cash withdrawls and card paymenets etc.

If your bank statements merely fairly represent your income and expenditure graham, you have absolutely nothing to worry about in disclosure.

I'm a bit confused about why you would be storing money for your partner, would she not be better to set up a savings account of her own? Does the IVA take into account her contributions to the household?

If you know exactly what has gone in & out & why you should be able to explain it though.