www.iva.co.uk

My husband and I entered into a linked IVA in June 2005 they told us we would have to pay total £18600 over 5 years with the option of keeping my husband one more year as I don’t work due to ill health my husband has made all our payments .we have just finished our fifth year .in March we were asked for all his wage slip ,bank statements and our paying out ECT which we sent we spoke to them and asked if they were going to keep us in the IVA another year they said that they would let us know by June and we have heard nothing .Then in august a statement saying my husband has over paid he has paid he has paid £10600 on his account and on my account he has paid £9600 making a total of £20200 which is £1600 over what we were told we would have to pay since these figures were done we have paid another £930 pound and we still have heard nothing more as to whether they are going to keep us in the extra year what should we do . Sorry about the spelling but I have dyslexia

Hi. I think the spelling was perfect (but I'm dyslexic too so I could be wrong!). The £18k agreed at the start was an estimated figure - the additional money paid across will give the creditors a higher dividend. What is the reason for your husband's possible extension? Is it an equity clause?

Agree with BOL - however i do think it is bad service and lack of communication that they have not told you whether you need to continue to pay an extra year.
Ladycaz - what IVA company are you with ?

Maybe its time you contacted you IP direct and ask outright about this extra year.

I agree with the above posts, I also think that communication in an IVA is imperative, it's stressful enough without being in the dark as well.

This sounds bizarre to be frank, and I think you must urgently contact the IP firm acting for you to sort out the exact state of play with the IVA. Which firm are you with?

Having looked back through a couple of posts, I believe it is Grant Thornton. Hopefully Karol will pick up on this but you do need to speak to them as soon as possible.

Hi Ladycaz,

Having looked at your other posts I suspect that your IVA was originally approved by Debt Matters and then was transferred to Grant Thornton in March 2008.

If you can email us to ivacustomerservices@uk.gt.com and quote "IVA Forum" in the subject line, I will arrange for your case to be reviewed in order that we can resolve the matter for you.

I look forward to hearing from you.

Regards

Karol