IP has said we can get another car on finance but IVA would be extended. Can IP do this ?

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Nicholas.96

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Post by Nicholas.96 » Thu Nov 15, 2012 12:28 am
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hi we are 6 months into our iva and have found out we are expecting our fourth child and need a bigger car. Our car is on finance and have 16 months left to pay on it and the money was then to go into the iva payments. Our ip has said we can go ahead when we need to get another car in 9 months on finance but she said the iva would need to be extended another year can she do this?
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MrsR

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Post by MrsR » Thu Nov 15, 2012 12:36 am
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Hi Nicholas,

Does your proposal state that your IVA has a speciic dividend to achieve in order to complete ?
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!

Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA :)

Completion Certificate received- 30th April 2015!!
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MelanieGiles

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Post by MelanieGiles » Thu Nov 15, 2012 1:28 am
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Does the IVA proposal give the IP the right to extend the IVA term at her own discretion?
Regards, Melanie Giles, Insolvency Practitioner
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