Withdrawal of IVA

debtphobia

Hi this is my 1st time so not sure what i am doing but lets hope...

I am in my final year of my IVA and have been sent a letter saying they cancelling my IVA as i have not provided wage information. I have never provided wage information before so why are they requesting this now in my final year. They have never communicated before to ask for this information and if this is a requirement then would they have not tried to cancel IVA previously.

I have never missed a payment even when i took a £5k pay cut.

Please can someone advise as i am so close to completing.

Charco_2

Who are you with?

Can you not just provide the wage slips?

debtphobia

Not at present as i just got married and my partner is from overseas and my last 12 months payslips and P60 are with the home office.

althas

At a GUESS, I would think they would want to see your payslips to check the amounts, to see if you have exceeded any income levels set out in your proposal

For example, in mine, I am allowed to earn 10% above the salary amount in my proposal, then everything after that I have to split 50/50. So say my normal salary is £100. I earn £120 in a month. I get the keep the 1st £10, then the remaining £10 is split 50/50 and I have to pay £5 extra to the IVA

I would have thought that your IP should have requested wage slips on a regular basis to check this (mine is quarterly), or at the very worst as part of your annual review. But they may have something in the T&C's saying this is your responsability and they will not chase, or they will ask for a full set in the final year. Have a look through your agreement to see if anything is there. But whatever you do, talk to your IP as a matter of URGENCY to sort this out. It would be a nightmare to have it failed in the final year

Good Luck

Charco_2

Quarterly? And yet some popular poster on here would scorn a company for doing it every six months.

I think there's a legal requirement to do it at least annually.

However back to point at hand. DebtPhobia, contact your IP and see what agreement you can come to... Ask if a letter from your HR Department (if you have one) confirming your income would be enough. (This would have the benefit of not showing your overtime and bonuses - but again that might be why your IP is asking so it might not be sufficient)

Explain to him that you don't currently have your wage slips or ask your Finance Department (if there is one) if they could confirm your earnings so far.

Remember (as Althas has said) you'll not be required to pay ALL the overtime you've earned so don't let that hold you back if that's the hold-up or a concern for you! Do everything you can because falling at the final hurdle would surely be gutting!

SPEAK TO THE IP - he's only human after all!