www.iva.co.uk

How time flies!
Can you advise me what information is normally required for review purposes.
Also due to the increase in the cost of living i.e. fuel costs,gas, electric etc am i able to alter last years figures for budget purposes?
thanks again in anticipation of information

Your IP will usually need you to completed an updated income and expenditure summary, to take into account fluctuations in all areas, and this will need to be supported by wage-slips and any other documents the IP might need to examine.

Thanks Melanie,
do i have to go back with twelve months of pay slips,and utility bills,also will the flucuation in petol price be taken into account?

That really depends upon the policy of your own IP - but I usually just ask for the last 3 months together with a copy of last year's P60.

thanks again,what would happen(changing tack completely)if i was made redundant receiving £30k approx my current payments are £520.00,would i be able to pay off the iva with the proceeds subject to getting another job.i guess if i was unemployed for any length of time the redundancy money is classed as income until the suituation changes.any information you can give

Your redundancy money is paid to you as compensation for loss of office, so you would need to ensure that you were setting aside sufficient money to supplement your income until you could anticipate finding alternative employment. But there is no reason why you should not use some of the money to offer an early settlement to creditors.

Thanks again Melaine,i applaud the work you and all the experts do for all of us.