Hi myself and my wife have just completed our IVA,or so we thought.We have received a letter today from our IP stating ' All expected contributions have now been received,however the term of the arrangement is to be extended by 6 months to allow for final administration and a divedend to be issued'. It does state that we are not required to make any further payments and that a certificate of completion will be forwarded in due course. I am at a bit of a loss as to exactly what is meant by this letter. Surely the admin doesn't take so long to sort.After 5 years of worrying about the Iva and thinking it would never end,to feeling so overjoyed at the completing our IVA and then now this! Will it ever end? Could anyone please give me a few pointers as to what is going on or am I just worrying for no reason. This site really has helped us through our IVA even though this is my first post reading other posts with similar problems really does help.Thanks and good luck to everyone.Jonathan
Hi Jonathon
Welcome. The clause is put there as a time limit for your IP to close your file. If its any help my F & F was in October and completion cert issued early March so worry not its quite normal. I hope you are enjoying your debt free life
Thanks nepensioner that's a great help.My problem is I am a worrier, no matter how much I try not to I tend to just think the worst will happen.I am now back to walking around with a daft grin on my face thanks to your reply.
Thanks again,Jonathan
Hello and welcome to the forum your IP is being conservative with the 6 months extension to disburse all creditors funds and close your iva.once you have recieved your completion certificate thats it job done.i would contact your IP every 6 weeks to nudge them and for a update.it should,nt take 6 months i would have thought near 3 months.i got mine aprox 2 months after my last payment.
Last edited by MRBLUESKY on Sat Mar 26, 2011 5:55 pm, edited 1 time in total.
Hi Julie and MRBLUESKY,thanks for your replies.
I am with One Advice/Harrington Brooks who some people have said not to touch but I have nothing but praise for them.
As for life on an IVA,sometimes I felt as though I could write a book about my feelings of ups and downs.The feelings that it would never end and that it would go on forever,the days where I would daydream about what would happen at the end of it all and the reality when the final payment left my account and my IP rung me up to tell me to cancel the standing order,wow!
I wish now I would have kept a diary of our feelings were about how things were going,only weekly but it would be good to read those things back to see how more confident I feel now about things.
I was always ashamed of the position we were in but grew to think the opposite of that and became proud that we were actually doing something about it.
Sorry about the essay it always feels good to put things down in writing/typing.
Thanks again everyone.
Excellent post Jonathan and just goes to show how different experiences can be had with a company.
Why don't you start a blog and try and remember how it felt at the start? I used the blogs and found it theraputic to "get everything out". I read back now and cringe, but at the end of the day that's how I felt [:I]
If you could blog about the story of your journey, it would be great.
Congratulations from me as well - good luck for the debt free future.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks again Julie and thanks Jan.
Julie you're spot on with what you say about people having different experiences with different companies,it's a bit daft really when you're paying for a service you expect just that,service.I suppose it's a lot to do with who you get to speak to/deal with from that company that effects your whole view.
Everyone deals with things in an IVA differently I suppose.Some people are very matter of fact about it,others let it control their life a bit too much,which it does for quite a while.I let it take over my every thought to the point where it would get a bit too much and would go into virtual emotional shutdown.
After some time of feeling sorry for myself I realized how much I was letting life pass me by,with my children were growing and me often preoccupied.
We have never told anyone about our IVA and have managed to hide it from all our friends and family quite well I think.The problem for us being people like my sister and brother in law who made comments about how people will obviously get in debt on purpose then use an IVA as an easy way out and then rack up debt again.All the time moaning about how 'skint' they were and couldn't afford to do this,that and the other.I felt like blowing my top with both of them and telling them they didn't know what 'skint' was.I think that's when I stopped feeling sorry for myself.
Half way into my IVA it hit me that we were sorting ourselves out and we were heading to happiness.That's when I got my first tattoo (I know a lot of people don't like them),which I finally plucked up the courage to get after wanting one since I was 16,I'm 37 now!
It's in Japanese writing and means 'family love,courage and strength.
With my IVA completing,well nearly,I've learnt that life will always has it's ups and downs but it doesn't mean we have to stop trying.
Thanks again for letting me rant on.
Jonathan
That's a great post Jonathan and I totally agree with it.
I love tattoos - I have one of Tigger on my ankle, and despite my advancing years, I want another one when I can afford it.
You rant on as much as you like. Have you thought about putting down your experiences in a blog?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I know it sounds a bit silly but I'm just happy posting on here chatting with people who roughly know what my situation is like.
By the way I got my second tattoo last August with my children's names and birth dates.
Problem is I'm wandering what to get next!
Thanks anyway,Jonathan
I haven't a clue what I'm going to get - have to wait to get some money together first.
Post away, the blog was only a suggestion as that lasts for a long time whereas posts tend to disappear eventually, but if you are happy just to do that then carry on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sorry about putting roughly knowing what my situation is,it doesn't sound right.We all have very different situations as to why and how we are in/have been in an IVA,what I meant to say was it's good chatting to people who know about being in an IVA.
Dear me that was a bit of a waffle.
Jonathan
We do and it is good to speak to people in the same situation. I have made some very good friends off forum from here.
You're not waffling Jonathan!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
