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Posted: Fri Jun 20, 2008 9:49 pm
by cashflowlow
Im 10 months into a 6 year IVA can anyone tell me when they do reviews and what they want to see,,,thanks
Posted: Fri Jun 20, 2008 10:16 pm
by MelanieGiles
Hi there and welcome to the forum
Your IP will usually do a review at the end of each year, and they will want to see details of your earnings and expenditure to ensure that you are paying the maximum affordable amount.
Posted: Sat Jun 21, 2008 2:08 am
by cashflowlow
As Iv room in my house I was going to rent it out to a friend would they allow this ?My first year is up in Sept so I would presume around that time they will want to see 3 months wage slips and bank statments and me to fill a form in simular to when I applied for an IVA listing my out goings.
Posted: Sat Jun 21, 2008 8:21 am
by Soulgrowth
Hi cashflow ... welcome to the Forum.
I can't see that there would be any problem at all in renting a room out ... but I would imagine this would be classed as 'income' and so might affect your IVA payments. I never got to the stage of a review as my IVA failed before the first year, but I think you are spot on with what your IP would want to see.
Al the best
Debbie
Posted: Sat Jun 21, 2008 8:23 am
by Adam Davies
Hi
"They",presuming your creditors will have no say in you renting a room out or not.You may need to inform your mortgage company though.
Yes you will have to fill in a fresh income and expenditure form,and you will have to show your extra income from the room rental.You should be able to offset this with increased fuel costs etc etc
Regards