Iva paperwork: problems!

Ivadiva

Hi everyone,

I'm starting an IVA with Payplan and getting the evidential paperwork ready for the proposal to be drawn up. I have a problem with some of this, here goes:

Full Legal name confirmation: I have no passport or driving liscense

Loan agreements: is this loan agreements other than those already discussed? If so then I lost those in a move.

Public transport tickets and reciepts: I don't keep them- always get lost or thrown away. Anyway my travel costs vary month on month as I am called up to different meetings, work at and network at different locations etc....

Bank statements: I bank online and opted out of physical statements. Was tokd a printed one would not be right. Also I need to highlight my expenditure? This varies each month again!? Do I have to scrutinise everything on detail? Also I am in the middle of agreeing things like contents insurance etc and told payplan this, therefore it has been budgeted for but there's no confirmation. My phone bills and utility bills (such as electricity bill) also costs varying amounts. What do they need me to do?

What can I do given that this is the case?

FoggyBrain_2

Hi. First of all, before comitting to anything, might I suggest you chat to a couple of other companies to compare advice and ways of working. You can find a list at https://www.iva.com, with reviews. The advice is free and with no obligation.

As for your specific queries above, I can only offer suggestions -- I know Payplan is a mite inflexible in their policies, so, really, only they can give specific advice:

I.D --- An official letter, from a government agency or Local Council will tie your name to your address and a birth sertificate will provide the name details.

Loan Agreements --- as long as the lost documents relate to paid up loans they can be forgotten. What they will need are copies of the loan agreements pertaining to the loans included in the IVA.

Travel costs --- they will have to accept an averaged estimate ( mine did!)

Bank Statements --- You can request printed copies from the bank. These are not a "bible", just a snapshot in time. I didn't have to highlight anything on mine .. the IP will be getting a fair fee, let him do some work !!

Ivadiva

Loan agreements- Yep lost all the Iva loan papers in a move- everything oh no!

Have a birth certificate and my change of name deed.I

GlamGirlie

The banks/financial institutions can provide you with copies of the loan agreements. They will retain these for something like 5 years AFTER the loan is repaid so any active loans being included in the IVA should be available this way.

And yes, you are expected to sit down and work it all out. This is a ticket out of debt, with no doubt a proportion of it written off, forever. The least you can do is take the time to work out your income and outgoings.

With your public transport, I would recommend you keep all tickets and receipts going forward, and also if you use an Oyster card you can print the history from the website.

Be warned, each year the IVA is reviewed and you are then expected to produce 3 x payslips, petrol/travel receipts, evidence of increased expenditure etc. It was a shock to me at first annual review but after that I was prepared and retained everything.