Annual reviews.....

stressedtothelimit

Can anyone tell me what happens at your iva annual review?

Do they ask you for your whole years bank statements and pay slips or just the last 3 months worth?

Our iva was only approved last week and just trying to find out what's in store for us!

trudij

My IVA company get me to send my pay slips (and any car bills and unexpected thigns like that) every 3/4 months, then they do a big review annually - but because Ive already sent everything off,they dont need too much else. they send me a form to say if anything has changed dramatically (though I dont know what happens if things have - mine has never changed enough to warrent changing it!!)

Its nothing to worry about - all that will happen (with mine anyway!) is that they will use the info to keep track,and adjust your payments if nececcary. (for your overtime excess and things like that) then they let you know if anything has to change,and you carry on as normal

its nothing scary - honest !!!

taplady

Hi! I'm nearly at the end of my IVA(2 payments to go:j) and for our yearly reviews we were sent and income and expenditure form to fill in and we had to send off our P60s and copies of all our main household bills eg water rates, council tax, electric etc. We didn't need to send food bills or car repair bills or anything like that and then when they's gone through it all they decide if you can afford to pay anymore per month or not.
They gave us certain allowances for food etc which we couldn't change but they were quite generous and we spent less and used the extra cash for other things.
Our 4th review was slightly different and we had to send bank statements too.
Its all gone straightforward luckily for us and I cant wait for it to finish. 5 years has seemed like an eternity.

Good luck x

malkkky

Make sure that each year they adjust not only your income but your expenditure.

At every annual review I have to remind the supervisor that they need to review my income and expenditure, and not just assume that as I had received a 3% pay rise that I should automatically pay more into the IVA.