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u769325
- Posts: 13
- Joined: Fri Jul 23, 2010 10:54 am
- Location:
Just been through my annual review and submitted latest expense sheets. My original assesment was too low and I have been using funds from a second job (under 10% of main income) to keep thing running.
All I have been offered to reduce the payments but extend the terms of the IVA by a further 9 months. This seems a little crazy to me. The IP seems adament they do not want to go to creditors as they will only want to see further funds.
I cannot get copies of the income and expenditure that was eventually agreed only what was proposed.
Has anyone else any similar experiences
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
- Location:
Hi, I have read about an extended IVA before, do you have to return a guaranteed dividend?
One of our professionals I'm sure will be along at some point to advise accordingly. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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plasticdaft
Forum Expert
- Posts: 9562
- Joined: Wed May 21, 2008 12:45 pm
- Location: United Kingdom
You should have been given a copy of what was agreed expenditure wise. What firm is it you are with?
Pretty common practice to extend the IVA if payments are reduced to ensure a minimum dividend is returned to creditors.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
