www.iva.co.uk

Just completed the paper work for my 3rd review. I am always nervous but have everything that I was asked for by my IP. Just need to photo copy everything and post it off and wait for the outcome. every year so far my payments have increased by about £50 a month I am hoping with the increase in the general coat of living etc. my payments will either reduce a little or stay the same.

Jan

I have just sent my paperwork off for my first annual review. I wish you the best of luck with yours. I have asked for increases and provided receipts where the increases are significant. Please let me know how it goes, Im with DFD now, previous Clearstart. Who are you with?

Hi Marsha

I am with Synergi as I have said so far they have increased my payments every year with out seemingly taking into account rising in bills such as rent, council tax, and utilities even though I have provided the proof. But keeping fingers crossed.

Good luck with your review hope it goes well.

Jan

IPs must take account of their clients increased expenditure - especially in the current economic climate. If your IP refuses to allow you higher allowances, dig in and fight your corner.

Hi
Well they should not increase your payments unless they have taken your increased expenditure into account.
You need to question this if they do this again
Regards

Hi Jan01 I thought they had to take into account increases in cost of living, otherwise how can we afford to sustain the IVA? It amazes me how there seems to be inconsistencies in annual reviews. Glad we have this forum and the experts who give their priceless advise to us.

Thanks Melanie
It seems that only my pay increase has been taken into account and not my increase in expenditure. Other years I have manged to pay what has been asked but with everything getting more expensive I am finding it more difficult. I haven't fought it before as I have wanted to pay my creditors back as much as I can. But reading what other people have been allowed to claim hairdressing, cigarettes(not that I smoke), sky tv, internet none of which I claim for and was not told I could claim for I think I will fight for a reduction or for my payments to remain the same if I am asked to pay more.

Keeping everything crossed

Jan

Marsha

By being on this site I have realised that some companies such as Melanie's and the other experts here are very good and understanding with their clients and work with them to help them whilst other companies don't.

Jan

Hi Jan01 I know what you mean. People like us admitted we were in trouble and wanted to pay back as much as possible. We need our IP's help and understanding.I hope you take the advice from Andy and Melanie. I certainly will if I have any problems with my annual review. Good luck.

Get on the phone immediately to your Supervisor (IP) or better still send him your current details of income and expenditure and if this shows a reduction of net DI press him to accept. Let us know how you get on as there are other ways to help if you are not successful.

Thanks David,

I am just ready to send my new i/e and will hear after Christmas if other years are to go by. I don't mind paying extra contributions with in reason I am currently paying £480 a month my debt was £32,000 so I am paying back a highish % back. At my last statement I had already paid back more £3000 that was originally expected so I think a bit of understanding wouldn't go amiss. As I have said before I want to pay back as much as I can as i feel I have a moral obligation to do so but i need to live as well.
I will certainly be seeking advice if I don't get any joy. I will put a letter in with my documents asking for allowances for things such as new specs I haven't had to change my prescription for the past 3 years and even if I don't have to this year I will need new glasses as my frames a rather delicate now.

Sorry for the long post

Jan

Hi

Are American Express one of your creditors by any chance. I know that they were asking for modifications which specified a minimum increase in contributions each year regardles of any increase in expenditure.

If your chairman's report shows such a modification you may need to ask your Supervisor to call a variation meeting to get this changed if you cannot afford the increased payments.

Modifications like that, which took no account of the ability to repay the increases, should never have been accepted by a debtor - and fortunately in the case of this particular creditor they are usually not in an influencing position with regard to voting.

I read this post with the view that the posters increased payments were as a result of their annual review, and not stipulated under the terms of the IVA. Is this correct Jan?

Yes Melanie my salary has increased each year and so has my husbands pension and DLA. My payments in the 3 years have increased from £410 a month to £480. Last year there was a mistake in that my travel expenses I claim from work were included in my increase in income this was rectified in so much as the extra money I was asked to pay for any wage increase of 50% was reduced but the monthly payment wasn't reduced, which was fine at the time as some allowances are generous but with everything increasing I hope that common sense prevails this year.

Jan

Make sure that you dig in on this Jan, and if you cannot afford an increase do not agree to one. It is very unlikely that your IP would fail the arrangement or take you to Court, so be a little bullish if you feel you are being treated unfairly.