www.iva.co.uk

My 1st year annual review with PayPlan is coming up soon. I really don't know what to expect and I'm getting a bit worried. I'm kind of thinking of it like my annual appraisal at work which is stressful. I've followed the rules and done a lot of overtime since the IVA started (approx 24 - 32 hrs a month) and Ive always sent my payslip to IP and made extra payments. Does anyone know what they do in these reviews? Do they ask for your bank statements for over 12 months and scrutinise every single purchase you make and what you are spending your money on? Do they ask for you payslips, P60 etc? I've got nothing to hide as I've made extra payments from overtime 8 months out of the 12 months.

The review is to account for your income over tha last year to make sure it is as stated when you started the IVA --- they will want to see proof of that -- generally a P60 and maybe last three wage slips. Some IPs ask for the whole years wage slips.
They will also want to check that your major essential items of expenditure are roughly the same, so will want a few months bank statements. If some bills have gone up they might want evidence of this to increase your agreed expense allowances.
They will not have the time to scrutinise your spending in detail, nor, probably, the will.

My IVA was with Payplan and from memory I think they asked for my last three payslips, P60 and to reappraise my I&E in case of any major changes. I was surprised (and pleased) about how little the level of examination was, you shouldn't worry it's just a formailty.

When I had my first year review last May with Payplan all they wanted was 6 months of wage slips and for me to update my I&E. Nothing else needed and nothing to worry about. They didn't look at my bank statements and when I questioned why they said they don't usually.

Thinking about it they did ask for at least one bank statement but over 5 years they never ever queried any transaction.

Had my 1 year review with payplan and they only asked for 3 months payslips, no bank statements. Then quickly went thought my budget to make sure there wasn't any major changes. I wouldn't get yourself too worried. As long as you are honest along the way, there will be nothing to worry about