FAQs for help and support

If you have a question about anything to do with your IVA or any ongoing financial issues, this section could help.

What question do you have?


Why am I still receiving creditor letters? 

Even though you're on an IVA, you'll still receive standard updates from your lenders, such as statements of account (these must be provided regularly in line with the Consumer Credit Act). These letters are normally just an overview of your account to date and are nothing to worry about; feel free to send them in to your Relationship Manager if you would like us to double-check them for you.

You certainly shouldn't be receiving any demanding or threatening letters – if you do receive a threatening letter from a lender (or somebody representing them), send it in to us in one of our pre-paid envelopes as soon as possible.

Once it's accepted, your lenders are bound by the terms of the IVA. If you receive any letters from your lender, just forward them to us, in the prepaid envelopes we provide, and we will reply on your behalf.

It's very important that you do this, as ignoring letters from lenders could result in further costs or legal action against you. If you receive any phone calls from your lenders, just refer them to us. Give them our telephone number and the name of the person taking care of you and we'll do the rest.

I have received a letter from a lender which says they're adding interest. I thought this would be stopped?

Letters like this are usually computer generated and are sent by your lenders so that they meet their obligations under the Consumer Credit Act.

They will sometimes show the interest and charges that would be accruing if there was no arrangement in place.

However, there is no need to worry: if your IVA has been accepted and you're making the agreed payments and sticking to its terms, your lenders are bound by it and no further interest and charges will be added to the balance confirmed on your IVA.

I have received a letter from another company. How did they get my details?

When your IVA is accepted, your name and address are added to a register called the 'Individual Insolvency Register', which is publicly available. This is a legal requirement.

However, some third-party companies use this list to write to people on an IVA, offering them a 'cheaper' IVA or recommending Bankruptcy as a better option.

Whatever they say in their letters, these companies know nothing about your personal circumstances, or about your IVA, beyond what they've found on the Register. Please disregard these letters or send them to us in a pre-paid envelope.

If you're ever worried about any letters you receive, please feel free to contact your Relationship Manager on 0161 672 8984. Alternatively, you could ask us a question here.

I have just received an annual report. What is it?

Your annual report is a written summary of how your IVA has gone over the last twelve months. It includes how much you have paid into your IVA and how much your lenders have received so far. It also shows how well you have stuck to the terms of your arrangement - including the outcome of your income and expenditure review and your income reviews.

Your lenders will also receive a copy of this report.

I have received a letter requesting proof of income. Why? And what should I do?

We conduct an income review every six months so we can confirm that you are complying with the terms of your arrangement. We need to see evidence of your wages / pension and / or benefits etc so we can complete this.

You'll receive letters telling you when your next income review is due. If we realise we're missing any of the information we need, you'll be sent another letter that tells you what documents we’re waiting for - and asks you to provide them as soon as possible.

As these income reviews are a vital part of your IVA, it's essential that you send us your proof of income. If we can't complete these reviews, we won't be able to successfully conclude your IVA and you may find that your arrangement is extended, or even fails, which could lead to you being made bankrupt.

If you cannot find your proof of income for a particular month or period, we can use your bank statement as a one-off instead.

I'm struggling to make payments due to a change in my circumstances, what should I do?

If you don't make your payments as agreed, your IVA could fail, which could lead to bankruptcy. However, there are ways we could help you avoid that, so call your Relationship Manager straight away - they are here to advise you about your options and will do everything they can to work with you to see that your IVA succeeds.

What do I need to send for my annual review?

All you need to send us is:

  • A signed copy of your income and expenditure breakdown - highlighting any changes that you need us to be aware of
  • Evidence of those changes (e.g. bank statements / rent letters / utility bills)
  • Proof of income - we need to see your most recent wage slip / pension statement / benefits letter (including any tax credit assessment letters that you have received).

Where do I sign on the Income and Expenditure form?

There's no specific place where you should sign the Income and Expenditure form. So once you're happy with it, we just ask that you sign anywhere and return it in the prepaid envelopes we provide.

I have already sent in my annual Income and Expenditure. Why have you sent me a reminder letter?

You are sent a standard letter requesting your Income and Expenditure 30 days before your annual report is due to be written.

You will then receive a second letter 14 days before the report is due - this is just a reminder, so please disregard it if you have already sent in your form.

If your Relationship Manager needs any further information, they will send you a third letter that tells you exactly what documents they need.

I have sent in my annual Income and Expenditure and the review has been done. Why have I now received a wage slips request letter?

This is normal: your annual review (a summary of the last 12 months) is not the same as your income reviews (which are an assessment of your income so we can make sure you can afford your payments - and check whether you need to pay any extra).

The wage slip request letter is a reminder that your income review is due, so it asks you to send in proof of income for the full period.

However, if you've already sent us some of those wage slips for your annual review, you don't need to send them to us again - we just need your proof of income for the remaining months.

I have had a change in contact details - is there an email address I can send the update to?

For any changes to your contact details please use our general office email address which is [email protected].

Why have I received an Income and Expenditure 'chase letter'?

We cannot complete your Income and Expenditure review with just your wage slip(s). If you have received a 'chase letter', it means that we don't have one or more of the following:

- Your signed / amended income and expenditure form
- Evidence to support your changes
- Proof of other income (not wages), e.g. Tax Credit letters

Your income review using your wage slips will be completed separately.

What happens after I have finished my IVA?

Once you have made your final payment into the IVA (including any outstanding additional money), there is nothing more you need to do.

We will send you (and your lenders) a written Completion Report, confirming that the IVA has successfully concluded. You will also receive a Certificate of Completion for your records. Once your lenders have this, any remaining debt will be written off and you shouldn’t hear any further from your lenders.

Your IVA is registered on your credit file for a period of six years from the date that your IVA was accepted (not the date it finishes). Until this date, it will appear on any credit checks that are carried out should you choose to apply for credit - and may affect your eligibility for certain products and contracts.

Once the six-year period has finished, the IVA will automatically be removed from your credit file. You can check this by requesting a copy of your credit file from one of the credit reference agencies.

To find other sources of free advice visit Money Helper. It's here to listen and give free, impartial, trusted guidance. Based around you and backed by government.

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Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA, alternative solutions may be offered. If your IVA fails, it could lead to Bankruptcy. Your ability to obtain credit will be affected for at least 6 years. Homeowners may be required to release the equity in their property.