changing the debt amount on IVA papers

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acsn

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Post by acsn » Mon Sep 17, 2007 9:03 am
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Thank you for the answer to my last question , which has now dropped into last weeks forum.

I am already making 6 extra months payments to cover potential property value increase, which now seems a good deal for the creditors.

Can an IVA run for longer than 6 years?.I am concerned that when my IP starts handing out the money to my creditors the amount they'll be asking for will be more than on the agreed IVA papers. I, niavely it seems, thought the amounts on the registered IVA were it.
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Adam Davies

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Post by Adam Davies » Mon Sep 17, 2007 11:33 am
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Hi
It can run longer than six years.Don,t forget that any overtime that you pay in will help with the final dividend.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Andam Davies
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MelanieGiles

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Post by MelanieGiles » Mon Sep 17, 2007 11:38 am
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If you have guaranteed to pay a dividend at a certain level, then the payments will continue until this is achieved. But if your IP properly verified all creditor claims at the time the proposal was issued to creditors, and has fixed his/her fees, there should be no other variables which would affect the payment timescale.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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