can the iva be extended

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paul.m

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Post by paul.m » Tue May 01, 2007 6:59 pm
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can the iva be extended if need be due to 1st year reduction of income
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aguise

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Post by aguise » Tue May 01, 2007 8:11 pm
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Hi Paul
An iva can be extended but it depends on what your proposal says. The best person to ask is your ip, they will be able to tell you. I would suggest you speak to them.

Ang
Please visit my blog at http://aguise.blogs.iva.co.uk/
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Adam Davies

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Post by Adam Davies » Tue May 01, 2007 8:41 pm
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Hi
Yes this is possible and it is also possible to vary the yearly payments..for example you agree to pay 60x £450 but due to unforseen reasons[possible maternity] you have to reduce year two to £350,you can then propose to pick up these shortfalls [12 x £100] in years 4 and 5 by paying £500 per month.Obviously all of this must be agreed by your creditors by way of a variation meeting.
Hope this helps
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp
Andam Davies
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