My IVA company want to extend for a 7th year ! Is this allowed ?

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Lee.75

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Post by Lee.75 » Thu Nov 15, 2012 12:26 am
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I've had my iva for 6 years now and had agreed a repayment of 6 years and a mount. Now my iva company want to extend for a 7th year! Is this allowed? When the repayment amount had been agreed.
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MrsR

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Post by MrsR » Thu Nov 15, 2012 12:37 am
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Hi Lee,

What were the reasons behind the extension ?

Did you miss payments, or have a pay increase that was not discussed with your IP at all?
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!

Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA :)

Completion Certificate received- 30th April 2015!!
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MelanieGiles

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Post by MelanieGiles » Thu Nov 15, 2012 1:29 am
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Does the IVA proposal give your IP the right to extend the term of the IVA, and if so for what circumstances is this being suggested?
Regards, Melanie Giles, Insolvency Practitioner
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pm5

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Post by pm5 » Thu Nov 15, 2012 8:20 pm
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If you have met all of your obligations then no they should not be allowed to move the goal posts
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