Okay, as far as I am aware, my IVA that I started July/August 2007 should be finishing August/September this year. There was a month added as I broke my collar bone two years ago and was off work for a month. GT agreed to allow me to miss that payment and add it to the end.
Other than that I have never missed a payment, and my annual reviews have always resulted in no change to my payments. However, I have read posts on here about people being told their IVAs had to be extended for various reasons.
My question is, what are the circumstances that can trigger this? Am I to expect GT to call me in the summer and say, 'sorry pal, you've got to keep paying for another year!'?
Last edited by Nighteyes on Mon Apr 16, 2012 11:04 am, edited 1 time in total.
Usually IVAs would be extended for an additional 12 months if you are unable to remortgage. I assume that you don't have a property as you would have been informed already of the extension.
You may be notified of the new procedures for PPI and VAT and that may prolong completion of your IVA but you shouldn't have to make additional payments.
Thanks for the quick response. Yes I'm renting, so no mortgage. I have made no claim for PPI, and have not been advised of any changes regarding VAT. So I'm guessing I should be okay
I wuld recommend you contact them as soon as as you may be asked to do a PPI claim etc, doing this now will stop your completion taking longer than it has to, as it seems some people are only being told about it post final payment.
I contact my company in jan when i was due to finish in march justg to clarify final payment etc, they should be able to tell you
IVA completion and certificate received 08/10/2012!!!
Hi Nighteyes - you should be fine if you have only had onem onth payment break and your reviews have all resulted in the payment staying the same, therefore not affecting the dividend. Best thing is to check with your IP - htere is nothing wrong in giving them a call to clarify the end date. You should not be asked make any PPI claim if you are not entitled to i.e you have been misold PPI at any time.
Hope the last few months run smoothly and your IVA ends when it should do - keep us posted.
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
