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Posted: Tue Sep 13, 2011 7:40 am
by luckyalf
Hi,I`m in an IVA with CCCS and have just had my first annual review.On the review paperwork I got back,it says that I have agreed to pay 66 monthly payments.I was under the impression that I paid 60 months, then if I couldn`t remortgage,I paid another 12 months.Do I only pay 66 months in total without remortgaging ?Your help greatly appreciated.
Posted: Tue Sep 13, 2011 7:44 am
by kallis3
Bi and welcome.
What does it say in your proposal/chairmans report?
If you are unsure then give them a ring and query it.
Posted: Tue Sep 13, 2011 1:45 pm
by Foggy
Hi Alf. Does it say that you have to PAY for 66 months, or that the IVA will LAST for 66 months ?
Many IVA's incorporate an (up to) 6 month administration period to tie things up before formal completion, but, during this time ( all things being equal) you don't pay.
Posted: Tue Sep 13, 2011 7:45 pm
by luckyalf
I think I have sortedit,I had a 6 month break to be able to buy a car,so that would take the IVA to 66 months.Thanks for your help anyway,it is appreciated
Posted: Tue Sep 13, 2011 7:51 pm
by kallis3
Glad you're sorted Alf. Good luck with the remainder of our IVA.
Posted: Tue Sep 13, 2011 8:38 pm
by Shining
Glad that's cleared up and hope the rest of your IVA runs very smoothly for you x