I completed my IVA and was informed to cancel my standing order. I then received a letter advising it has now been extended for a further six months for final administration. I now fear I may become bankrupt and as I was advised to cancel my standing order I am already late on payments. Please advise.
lyndseyloo - welcome to the forum. Does the letter say anything about further payments ? - if so and you dont agree you are certainly encouraged to disagree with the IVA company
If the letter does not mention anything about further payments - it may be finalising for closure - this seems to take anything from a few weeks to a couple of months.
Best thing is to speak to your IVA company Case Manager and query the letter etc.
Thank you so much for your reply, the letter does not actually state that I have to make further payments but it does say that as a result of the extended 6 months the IVA is now due to End in February 2012 so I assume I still have to pay which I know I shouldn't assume however I am a born worrier and now have had a very restless weekend, I am due to give birth in 2 weeks and am now on Maternity pay so really cant afford to make any more payments, its just typical that the company I am with are closed at the weekend so they cant help me until tomorrow, I am so worried about being made bankrupt as I cant afford to make any more payments due to personal circumstances and it seems so unfair when I have maintained my payments for the last 5 years (60 months)
i think what they mean is to allow till feb to get the iva paid out and to allow for your compleation certficate to be sent.
if your not sure phone them to clarify what the dates mean.
still think its too long to wind up your iva when they have been running it for 5 years.
cc received 6th January 2014 now upwards and onwards
I'm pretty sure that's what it means, I did post this on Lyndsey's original post.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I am sure you will be fine Lyndsey. Let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
It is usual practice for the IVA to run for six months after the last payment to sort the admin stuff out. you will get your certificate of completion sometime in this period.
Not all companies do this IvoryFalcon - Mel has just done one within a week.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Mel is Melanie Giles who is an IP with her own company.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Hi ivory you say this is normal practice for it to go on for another 6 months to complete the admin but am I expected to still pay for another 6 months??
no you should not pay anymore money over.
its just they are taking the max time to tie up the ends of the iva and get you the certificate of completion out.
if it takes that long then ill eat my dinner[:D]
cc received 6th January 2014 now upwards and onwards
