www.iva.co.uk

Its coming upto our first review soon. This 1st year has gone so so quick and very smooth.

I beleive the IP company with need wage slips and P.60 which is fine.

Some companies ask for Bank Statements, How many do they need ? and why ? are they going to start trailing through all my transactions and start asking questions ?
I have 2 accounts one which all the bills and DD go out of, and one for everything thats left. Will they require both statements ?

Cheers
carol
x

Hi Carol,

I believe it is different for each IP. My own won't be requiring bank statements but I know a lot do.

The best thing you can do is contact them and ask exactly what they are going to require.

Hi,

Mine did not even ask for statements. All I have ever had to supply is my monthly wage slips which I send in quarterly. You may not have to supply anything except an updated I & E Form

Congratulations on almost completing your first year - goes so quick!!! [:D]

Thanks for the advise !

Caraf.I'm with DFD and they want 3 months wage slips, bank statements and evidence of any increases ie gas bills etc.They send out a income and expenditure sheet.I asked for a review in August as I had a huge raise in electricity payments.I have still not heard a thing.Good luck.I agree this year has gone very quickly.We started around the same time! Cat

I'm also with DFD, my Gas/Electric bill went up by 50 notes just before my last review. I had to show proof of the increase using the letter from the power company and also show proof of anything else that had increased by more than a tenner a month on the I&E.

I didn't have any free cash so my monthly payment stayed the same after the reveiw.

Soon after i managed to get the Gas/Electric bill reduced back down again.... by £50 [:D]

Hi
If you send proof of any increases.
Why do they require bank statements ? Are they going to start trailing every transactions and asking questions

Hubby was with DFD. They never asked questions about anything on bank statements. I suppose its just the easiest was of proving insurances and other bills are the same as you say they are.

Mine asked for a new I and E, wage slips for the year and P60.

I get the impression by your post your nervous about the first review, trust me from experience, dont be. I was very nervous and put loads of posts on here asking all kinds of questions, and when i did it the IP was very fair and it all went smoothly, the thing that i found was to be honest and they will help you, and also see from your point of view.

Good Luck

I don't ask for bank statements, but do ask for documentary evidence of any items of expenditure which are reported as 10% higher than the previous year. We also ask for the last three months wage-slips, the most recent P60 and a declaration that no windfalls have been received.

Seems to work well for us, and our regulators, but other IPs will have different policies specifially tailored to their own practices and relationships with their clients.

When SIVAs are introduced, hopefully in 2009, there will be no requirement for an annual review at all (or so they say at the moment!)

Melanie we do I believe the same as you - but sometimes ask for the last 3 months bank statements. Roll on the SIVA's which are going to be called Fast Track Simple IVA's I believe in 2009

Thanks for all your experiences and advise. Brilliant as ever !!
Regards
carol
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Just getting together the bits for my 3rd review. My IP asks for wage slips P60 and evidence of any increase in payments. So quite straight forward I am going to get it together tomorrow evening photo copy what I send and wait to find out the result. Up to now my payments have always increased but I am hoping that my payments will remain the same to compensate for the general price increase on fuel(s) and food etc.

Good luck with your review

Jan

Make sure you put down the extra costs of council tax, sky, food, electric, gas, food, prescriptions etc etc - I am sure it will go well.