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Posted: Mon Apr 16, 2012 11:02 am
by Nighteyes
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!'?
Posted: Mon Apr 16, 2012 11:12 am
by Olivia Young
Hi Nighteyes
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.
Posted: Mon Apr 16, 2012 11:22 am
by Nighteyes
Hi Olivia,
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
Posted: Mon Apr 16, 2012 11:30 am
by artemischild
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
Posted: Mon Apr 16, 2012 11:35 am
by Nighteyes
Thanks. I'll get in touch.
Posted: Mon Apr 16, 2012 11:53 am
by Tina Shortland
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.