Extra money when in an IVA

bombonbon

Hi there, I have received £300 extra money from selling some random shares I received. I have tried tirelessly with my Iva provider to see if any needs to be paid into my Iva and I keep getting different answers after waiting days for emails back. Has anyone else had extra money and declared it when it’s around that amount? Do other people just wait until the annual review to see what extra money they have had and see if anything needs to be paid? I also get random money sent sometimes from family members for birthdays Christmas etc, will that effect the IVA? Since agreeing to the IVA I have had no discussions or anyone contact me at all from credit fix, I didn’t even know extra money effects IVA until I googled it.

any help will be appreciated, thank you

bombonbon

Also, should I declare every single thing I receive? I recieved £100 from selling something on vinted so should that be declared? I got £50 transferred for a birthday, should that be declared? I don’t want my IVA to fail at any point but there seems to be blurred lines that are made harder by poor customer service from credit fix 

fatbelly

The agreement you signed will give the answer yes.

But be practical. How do they know what you got for your birthday? Or from Vinted?

sourcrates

A common sense approach to this works best, the odd few quid here and there you don`t need to mention.

Don`t overthink things.

bombonbon

sourcrates said:

A common sense approach to this works best, the odd few quid here and there you don`t need to mention.

Don`t overthink things.

Thank you, at annual review do they request bank statements to show credits coming in? I’m definitely overthinking it haha 

bombonbon

fatbelly said:

The agreement you signed will give the answer yes.

But be practical. How do they know what you got for your birthday? Or from Vinted?

Thank you, I presumed they’ll check bank statements on annual review but do they not? I’m way overthinking it but just don’t want it to fail as it’s really helped me get back on my feet and I’m only in my first year haha. Maybe I’m taking it too serious 

Ennie21_

bombonbon said:

fatbelly said:

The agreement you signed will give the answer yes.

But be practical. How do they know what you got for your birthday? Or from Vinted?

Thank you, I presumed they’ll check bank statements on annual review but do they not? I’m way overthinking it but just don’t want it to fail as it’s really helped me get back on my feet and I’m only in my first year haha. Maybe I’m taking it too serious 

most IVA companies request three months bank statement P60 or payslips and any benefit sheet and if you own a house, its expenses. 

bombonbon

Ennie21_ said:

bombonbon said:

fatbelly said:

The agreement you signed will give the answer yes.

But be practical. How do they know what you got for your birthday? Or from Vinted?

Thank you, I presumed they’ll check bank statements on annual review but do they not? I’m way overthinking it but just don’t want it to fail as it’s really helped me get back on my feet and I’m only in my first year haha. Maybe I’m taking it too serious 

most IVA companies request three months bank statement P60 or payslips and any benefit sheet and if you own a house, its expenses. 

Thank you, I thought they’d go through everything and check all credits. Glad I asked now and I’ll know what they’ll be checking on annual review. Won’t be stressing at all now when I get extra money in so thanks again