This would depend on what is detailled in your original proposal. Best advice would be to discuss with your IP. A typical example of this would be that a proposal would have stated that if the equity can not be released that the term of the IVA be extended for a further 12 months. As i say though it will all depend on what your original proposal stated.
I think the majority of us will be in this position. It is usual for the IVA to continue for a further 12 months in lieu of that equity. It does depend upon what your proposal says.
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
