IVA Annual review + DFD

dimples_2

Hi there
If any of you are in an IVA with DFD can you tell me what they require from an annual review?
On our terms and conditions it is written they need 12 months wage slips and P60's, they don't mention bank statements but I'm assuming they will need them too as otherwise how do you prove your SOA are correct????
Also with SOA if your figures are different to the original ones issued at the beginning of the IVA how flexible are they??? Some months we have nothing left and others we have extra depending on birthdays, school trips etc.
We don't overspend and can't afford a holiday or anything for at least the next 5 years, I wish I'd logged into this site 6 months ago as have read some scary stories reIP's and IVA's.

BTW The IP wanted half Dh's cancelled pension payout of contributions, he's not best pleased!:mad:

Also another question, say God forbid we defaulted in the future or our circumstances changed leaving us unable to continue with the IVA, would our IP declare us bankcrupt or do we do it??
And if we were to be made bankcrupt who would let us open a bank account? We have debts with pretty much all the high st banks bar Lloyds TSB,Abbey. I read on another site that only Nationwide, HSBC & CO-OP offer basic accounts to undischarged bankcrupts and we have debts with all of them!!! GULP.

Many thanks x

Goldielocks

In answer to your last query - I have read of quite a few people who have managed to open basic bank accounts after BR, with banks that they had debt with prior to BR! There will always be somewhere that will give you an account don't panic! Even as a last resort go for a Post Office savings account!

G

Annie_Fanny

Dimples who are you with for your IVA?

Goldielocks

I think it's Debt Free Direct....

Annie_Fanny

Do they charge for this service?

Goldielocks

Put it this way - I considered doing an IVA with them until I got the paperwork through and saw their fees were £7000!!

Annie_Fanny

Dimples - can I be straight with you? BIN DFD. But before you do this call either the CCCS or Payplan...

Consumer Credit Counselling Service (aka CCCS)
Wade House
Merrion Centre
Leeds
LS2 8NG
Tel: 0800 138 1111
http://www.cccs.co.uk/

Payplan
Kempton House
Dysart Road
Grantham
Lincolnshire
NG31 7LE
Tel: 0800 917 7823
http://www.payplan.com/

Have a look at this thread to make things clearer...
http://forums.moneysavingexpert.com/showthread.html?t=264431

Annie
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CLAPTON

lets remember there is a big difference between an IVA and a DMP.
An IVA is a contractual commitment, you can't easily change it for the five years..annual reviews are normally written into the agreement.

ALL IPs that administer IVAs charge for their services (unlike DMPs where CCCS and Payplan dont charge).

Probably the OP has an agreed amount to pay each month and the IP fee come out of that fee....it can't be changed now...perhapd the OP can tell us.

james32_uk

People need to remember that CCCS dont do IVAs and Payplan charges would be similar to the above. The important difference is that CCCS/Payplan would be much less likely to put their profits first when advising debtors on their best choices.

dimples_2

It was CCCS who passed me onto Debt Free Direct!!
And yes their fees are pretty high but we were soo desperate to set up an IVA we didn't look too much into the small print at the time, we do not actually pay the fees directly to them to set anything up they take them from our contributions over a period of time.
I wish as I said before that we had seen this site before we signed any contracts.:mad:

But if anyone out there is with DFD please contact me or add a thread just to let me know what they had to do when they had their annual review.

Many thanks.
p.s and thanks for the answer to my BRY and bank account query, put my mind at rest!:A

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