www.iva.co.uk

Hello everyone.

Well the past 12 months have flown by and I must say that my 1st annual review was so easy and not as nerve racking as I had anticipated.

My payment has stayed the same, and this is what I am feeling a little uneasy about.

After doing my I&E I had a little bit extra that I could contribute each month, which I was happy with. But the lasy doing my review kept adding more to my expediture saying that it wasn't enough and bumping the figure up and adding on extras so that the figure remained the same as last year for me.

I just thought that was a little odd as I explained I would be comfortable increasing my payments, but she wasn't having any of it and tried to keep them down.

Am I being silly or does this not seems right?

My payments have stayed the same since I started. Don't forget that things have gone up.

I'd just be happy to go with what they say.

Hi Supergert,
your not being silly at all. You have told your Ip that you could afford a little more and they have said no. Things change day by day and if they were to increase your agreed payments, it perhaps would not be so easy to lower then again at a later date if things changed for you. Honesty is the best policy and you have done everything right. Save what you can just in case the unexpected happens at a later day, best wishes Rich

one thing I have learnt whilst in my IVA and whilst being on the forum is that every single IP has their own way of doing things and allows different things.. There seems to be no set rule as to what is allowable or what is the norm for payments. Some people get allowed far more than others in the same way that some repay 20% and others 90%.

If I were you I would just get everything in writing and say thank you and enjoy any little extra you have..

Many thanks everyone for your comments. Never had a review before and just wanted to make sure everything has been done properly. [:D]

You're being silly, sorry about that

Everything has increased in price. 100 quid would fill a shopping trolley with food, now it is 2/3rds full. 30 quid will get a fuel tank half full these days.

With the government penny pinching off everyone / everything just remember that you can't put a price on the 'feelgood factor' (whatever that means, I haven't felt good for years!)

Go with the expert opinion of your IP. Pop the few extra £'s away if you are able as you just never know when you'll need it. x

Your IP firm will be operating in line with the modifications and while you may feel you afford a little more do not be concerned. Five years is a long time and it should get easier each year. I applaud your IP for not squeezing every penny out of you to maximise their own fee income.

Interesting to see IPs working to keep money away from creditors! I agree that IPs should be fair in the reviews, but not that they should alter or falsely inflate figures as it is being suggested here.

Thanks again for all the comments, and I agree that everything is going up in price in this country so need to think about that.

I think suggesting that my IP has been falsely inflated my costs so my creditors lose out is a tad harsh. Makes them sound like they have acted as criminals. I am only talking about a few extra tens of pounds, not hundreds.

I would say enjoy having a little bit extra and maybe put it away in case of any emergencies. At least you've been honest so they can't come back to you on that. Good Luck.

you have a right to not live close to the edge where money is concerned.as other posters say its easier to err on the plus side and not have to worry about things when they go up.mel my case worker also does things this way and they are as you always say paid by the creditors.whats wrong with working with a bit of leeway and i would never class that as falsley inflating the figures.

Hey SuperGert, looks to me that you have a very understanding IP who is trying to help you get through your IVA without too much stress and hardship.

You never know within the next year you could be glad that you have a little bit of lee way within your payments to save a tiny bit.

It is nice to see this happening.

Good luck.

Baldy[:)]

Hi,

We have just recieved our 2nd annual review outcome(a month early) and are delighted our payment has remained the same again.
Our costs have been accepted at an increase of just over £200 vs last year covering our salary increases.
We feel we have been treated very fairly.

Regards.

Hi Gert, i would do as others have said and if it has been agreed with your IP then so be it, put that little extra away for a rainy day, good luck. xx