www.iva.co.uk

Hi all, hope everyones well,

My 2nd year review has come around and i must say its been quick, just a little concerned this time round, im with payplan and they have asked for a copy of my bank statement which i have sent them.

I was told by my case officer that they need the bankstatement so that she can upate my income and expenditure based on the figures from my bank statement. with a phone call from her this coming friday to discuss it

Ive emailed over a copy of the statement but im just worried about how much scrutiny they will give over the statement.

Im a worrier and suffer from anxiety as it is and im in overload at the moment waiting for friday.

Hi,

I am sure everything will be fine with your statement - they just want to check what your outgoings are.

They must have changed their policy as we never had to send in bank statements.

They will only worry about the essential outgoings -- rent / mortgage, council tax, utilities --- that sort of thing. Other stuff won't be clearly shown up -- unless you have something like a large unidentified payment going out / coming in regularly.

Thanks for the replies, i think in my mind that the ip only wants to see on the bank statements are essentials coming out and nothing more so will questions anything not essential. There was one largest payment that went out during august for one day that i took the kids to the zoo but this was out of the savings i had made the months prior to august as i knew i would be on annual leave to do things with the kids.

plus couple of other small payments of less then £10 going out here and there but again all from my budgets and savings. Ive had no extra money going in other then my monthly salary. I dont struggle every month as i get by enough, im just worried that they will increase to the point that each month is a struggle

Also as i get a 50% extra from a pay rise i received in the first year of my iva is that mine to keep for the remainder of the iva term?

Just explain about your savings - I don't think that will be a problem.

That 50% is yours full stop.

Hi, thankyou for the replies

ive just checked my payplan+, before talking to me on the phone they have put it to £182.41 just by my bank statement it seems, so an increase of £61.92

Have you done a new I&E form or is this just from your statement?

I would challenge why they have done this.

this is just from my statement, they put my salary from last months salary that had a small about of overtime on it, and not my standard salary, they have the rent down wrong, as i pay rent on a weekely basis and i get paid last thursday of every month some months are a 5 week month so they havent allowed the extra to be put to the side for the extra week when its a 5 week month

Challenge it and say you want a new review doing.

Demand to speak with the IP to get this sorted if the caseworker does not back down. The payments cannot be just be increased without discussing this with you.

I challenged it and there figures were wrong, my iva has gone up by £7.25, they had put down my rent and salary incorrect.
Seems to be new payplan policy now that they take figures off a bank statement before hand. Happy now that stress and worry has been sorted for atleast another year.

It is not your IPs business how you spend your own money. If you can make savings and use that money on the kids then that is totally fine,

Yes michael you are correct, i think it was more in mind with over thinking things aswell. Nothing was mentioned at all about my spendings.
Cant believe 2 years has almost past and will have another stress free year.

I feel so far that it has been a financial lesson in regards to managing money, budgeting and having to save for something that you want instead of just getting the credit card out and getting it there n then.

That's good news - glad you got it sorted.