www.iva.co.uk

Does anyone know how long legally an IVA can remain open for? I finished mine in 2012 and I have still not got my CC. PPI has been ongoing now with a company arranged by my IVA company and it is dragging on, another phone call today confirming details I had already confirmed prior to Christmas and previously been told offers had been made! It's getting silly now!

Hi -- it can only remain open for as long as is provided for in the agreement. Proposals do vary -- mine, for instance had provision to extend on two occasions, one for 3 months and one for 6, after giving due notice. I am sure many of the arrangements that are being left open for protracted periods will also have similar clauses and it is down to the debtor to formally complain and then take the matter to the Regulators.

It is purely a guess, but I imagine many are being dragged on, contrary to the agreed terms.

Hi

I don't think there is a set limit but clearly having to wait well over one year is unacceptable

All you can do is keep chasing, this forum at times has been overtaken by people in the same boat as yourself venting their frustration, and quite rightly

Regards

Many thanks both, you feel so lost in all the jargon at times! I know there have been many people asking the same type of question but never a cut and dried answer. I am left feeling I made the wrong choices 8 years ago, and what's so sad is all the PPI claim will go back to the bank which Iill advised me in the first place. O joy!

Coloon makes a good point here.... how on earth does it make sense to pay back the ppi to a company that got you into debt in the first place?

I cannot see how it can be right to make someone wait two years for their CC after they have me all their payment obligations. Surely there should be some time limit on how long an IVA can stay open !