Good morning, #13;#10; Guess this is for Melanie. What is the maximum term an IVA can run for ? By extending the term of the IVA, are the monthly contributions reduced ?
As long as the debtor and creditors want to be honest - there is no maximum time. And contributions are based upon affordability - so that could result in an extension of time if that is what creditors require. Difficult to genaralise on this point really.
Thank you, so basically you just have to keep an open dialogue with your IP, now i'm a couple of payments in, it feels great, this time next year i will be moving across to the new keyworker homes, and a deposit is required.I am hoping that my IP will help with this.I'm sure it is far too early to mention this, but all the same i am quite anxious to do so, like i say i am a few payments in and do not want my IVA to fail now.
I seem to remember that as well, but I'm not sure if it was her, or someone she knows, or something she had heard of.
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
