IVA transferred to sister company?

mrcactus

Thought I'd replied already lol

PrettyKittyKat

mrcactus wrote: »

My concern would be when they look at my bank statement and say you've spent £400 in Asda on groceries, which is £200 more than on your I&E form. Whilst I have not got any loans, credit cards, finance etc during so far whilst on my IVA....I'm completely panicking they going to fail it for some reason.

You are overthining it. For exact DDs like water, electric, insurances etc they will lok for the DD and update it accordingly. Or take the yearly bill and divide by 12. However for allowances like travel and food they will likely go by what you say, unless it is SIGNIFICANTLY high (e.g £600 for travel) or you advise of a large increase (e.g. your travel was down as £140 and now you are saying it is £300). In those instances they will ask for a month of receipts to evidence.

Don't forget your spent at Asda could include bulk buying for a few months, clothes, entertainment allowance (dvds for example), sundries/emergencies (new bedspread for example).

When I was reviewing bank statements things that would raise concerns would be payments not accounted for on the I&E, incomes not declared (eg people hiding a second job!), large amounts being paid to gambling sites as some examples. More often than not it was so I could make sure the IVA was accurate and affordable, don't forget they WANT you to complete successfully!

mrcactus

So for example, on my I&E it has £140 travel and I don't spend any og that on travel will they question it?

Will it be suspicious if I take out the majority of my money out in cash?

The main thing I'm trying to say is, that when my IP drafted up my income & expenditure they put things on there that I don't actually spend money on. When I questioned this they said we need to make the proposal attractive to your creditors.

So basically I get paid £1k per month, pay £250 rent to my parents and spend about £50 on phone I'll and entertainment. So I basically have £500 to spend on whatever I like after my IVA payment. This is what I'm worrying about, them looking at my bank and saying my payments need to go up to £400.

Again, maybe I'm still being paranoid and overthinking it... This is my first review and God for bid it messes up then I'll have 20 creditors back on the phone.

mrcactus

Well, I called up Aperture and they said because of where your 'Anniversary Date' is we only require the last P60 and the last 3 payslips. Haven't earned much extra income (below what is required to pay into the IVA) and just left I&E the same.

Guess the waiting game is on now haha