www.iva.co.uk

My iva is due to finish in august next year, after five years. I have very little, to no eqiuity in my property and may be in negative equity. Will I be expected to pay another year or will it all be completed after the 5 years is up ? I have built my hopes up that I have only 11 payments to make but am worried it will continue

Hi Sally. It all depends upon what is written in your agreement, as they do differ.

We did not have enough equity and we did not have to pay an extra year's payments. As foggy says, check your agreement, or simply ask your supervisor.