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				Posted: Mon Dec 10, 2007 8:02 pm
				by lesley.h
				What is the maximum time an IVA can last for?
			 
			
					
				
				Posted: Mon Dec 10, 2007 10:37 pm
				by MelanieGiles
				Hi lesley
There is no maximum time limit - I was once involved in one which was set to run over 30 years!
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp 
			 
			
					
				
				Posted: Mon Dec 10, 2007 10:39 pm
				by Lisa2009
				OMG 30 years?  thats nearly as long as i been alive
			 
			
					
				
				Posted: Mon Dec 10, 2007 10:57 pm
				by olympic_torch
				And me.[:)]
Aucto Splendore Resurgo.
(8 down, 52 to go)
			 
			
					
				
				Posted: Mon Dec 10, 2007 11:25 pm
				by Martin2011
				Is that agreed at the outset?  30 years seems a very long time, faced with that I think I'd opt for BR...  Is this something the creditors can affect, i.e., at the end of 5 years, if you haven't repaid 100%, could they say you have to pay for another X years?
Martin
			 
			
					
				
				Posted: Mon Dec 10, 2007 11:37 pm
				by MelanieGiles
				No - that was a very exceptional case.  The norm is either five or six years for contributions based IVAs, or 12 months for lump sum full and final settlements.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp 
			 
			
					
				
				Posted: Tue Dec 11, 2007 12:51 am
				by Martin2011
				Cripes, thanks Melanie.... will stop worrying now and head off for some sleep I think...
Best regards
Martin