www.iva.co.uk

Hello again all,
It's now been 12 months since our approval and our review is now due, We have sent all the paperwork off and I received an email today saying our payments may have to increase by around £40 per month ( depending on what our supervisor decides in the annual report ). This figure may not seem alot , but to us it is. It may mean make or break for us in the long run. We thought at first when we were approved that this was the start of better things but the past year has been tighter than ever. The cost of providing for 3 young children is high and I am worried how we will manage. Our income is slightly higher than this time last year but our expenditure is also higher. My wage is also due to reduce this year as is our tax credits plus everything seems to be going up in price. I know there are guidelines but real life does'nt follow suit. We are now wondering if BR would be a better option. Has anyone any advice on how 1st reviews go.

Best Regards

Your figures have presumably been assessed based on figures provided by yourselves for the purposes of review - so if you do not feel that you can afford the increase you may need to revise some of those figures.

IPs are not here to take money from clients that they cannot afford, but if your circumstances improve then presumably you would have been advised from the outcome that payments could potentially be increased.

Hi Melanie,
I do understand that, maybe we need to talk to the supervisor and go through things. It's just last year was awful and if this year is similar I know we will have problems.

Thank you

I think that a direct chat with your Supervisor is essential so that they can understand why you have found things so tough over the last year. We can only report on the information provided to us for the annual review - and do remember that this is just as much for your benefit as your creditors.