Iva mistake - think it may fail

glamb15

Hi,

ive had a big mistake with my iva. I’m coming up to my year review, I started a new job in June and started earning more money through overtime and bonus. I knew I had to pay some of that into the iva but I thought it was looked at at the yearly review and then the extra added on. I was unaware I needed to inform them each month of the extra income. I’ve only just understood this after reading some forums about what to expect at my first year review. I know it’s my fault for not understanding and I could do with out the lecture. 

When I send it payslips and let them look at my bank accounts are they likely to fail my iva for this? 

Really worried I’m going to end up losing my house now. 

Thanks for any advise 

sourcrates

No of course not, your monthly payment should just be revised, that`s all.
I think you need to stop thinking worst case scenario here, you are not going to lose your house !!!

glamb15

Thanks for the reply. 

It’s all overtime and bonus which is clearly stated on the payslips so never guaranteed. However I worked it out and I probably should have paid around an extra 3k into my iva as I had a few very good months.