IVA Annual Review

Boltonbwfc

Hi all

I am due my annual review with CCCS and my IP. Over the review period there have been disasters and changes with my income and expenditures. I had a major clutch repair in of about £760 in November in which I had to wait to get the car back after 2 months as I could not afford the one off payment and had to budget over the 2 moths and make drastic cuts to pay it. Then in December I had a car accident on the ice and had to pay the access of £200 to get my car repaired. I need the car for work and this was agreed prior to the IVA starting because of my job. I have also had a washer break on us in Jan this year and had to pay for a new one, again cutting drastically over our budget to pay for it. My daughter also started her new secondary school in September (a month into the IVA) and we have to pay bus fares of a cost of about £10 a week which was not included in the IVA. To pay for the clutch, etc we suspended our works pensions and hopefuly will be able to start these back up again. However I am worried how the IP will see this as I did not inform them of these changes. I also have a un secured loan on the house which was not insured so I took a policy out to cover this in case one of us die and also to pay the IVA back with the monies. How would the IP see this? I have all the receipts etc and have explanations for all what I have done but am worried they could stop the IVA and make us bancrupt. Our house is still in negative equatity and would likely to be throughout the IVA life? To cap it all my wife as also been told she may be made redundant through the council cuts and as had to go back to college to gain an extra qualification of the likehood that she may be re-interviewed for the same post with others that require this qualification to give her the best chance. We are having to pay for this otherwise she may be out of a job? Also to add my car insurance will be renewed in October and they have informed me it will virtually treble because insurances have generally increased and also the accident. I have looked and shopped about but the cheapest I can get was nearly trebled to what I am paying now. Will they take this into account considering it is not until Oct? I have printed the quote off to add to my eveidence bundle. I am really worried about all this and the review? Could anyone advice? Thanks.

Boltonbwfc

memberme

don't know who your with but I have had similar costs this year. I was given the option by my IP of splitting and adding over this year or just adding onto the total for the IVA so payments don't alter at all. I chose the later and they covered:-

new tyres for wifes car
new abs for my car
new stub axle and bearings for my car
dental work

they all know that we have these costs and you should not be afraid to approach them rather than trying to cover them yourself which could undermine your iva

memberme

I should add that each of these were on different occasions. I adjusted my standing orders to them online and timed the repairs etc so that I paid within the month after i had reduced my IVA payments. Straight forward and no hasstle but I guess that depends how your online banking works

Foxy-Stoat_3

Car insurance hasnt trebled in a year, mine went up £50 from £350 - £400.

I would complete the annual review form truthfuly and go from there.

Was the unsecured loan mentioned at the start of the IVA, as this should of been included.