No, there is no maximum time for an IVA. An old IP on here had one that was scheduled to run for 17 years! It did fail though!
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
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Seanj67
I'm sure that an IVA can only run for 6 years maximum anyway.
There is no maximum term for an IVA, however, if your agreement says 12 months, then 12 months it is -- they cannot do 24 or 36 months ( maybe some of the IVA';s they have doen themselves or taken on do have this ability and she is just giving you a blanket reply.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
That sounds like an idle threat to me. The IVA normally states an extension of 12 months if you cannot remortgage and insinuating a three year extension may persuade some people to agree to a secured loan that they would not have agreed to otherwise.
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
Yes, thanks guys that makes sense. To be fair they may not have realised I was not one of their clients from day one. I'll see what they tell me when/if the closure team call. I have about £44K equity according to the Halifax so I know I'll be paying for another year. I just need to find a second quote/refusal from somewhere...but until I know how much I need to release I can't!
Morning all, Just an update for anyone that may be with Creditfix.
Yesterday, I received a letter outlining the equity release requirement, and informing me that they had instructed Just Lending to contact me to make arrangements. The thing that stuck out in the letter was that they say that "A re-mortgage which also includes all secured lending options". Now, I know from the advice here that isn't the case with the 2010 protocols but I can feel an interesting discussion coming on.
Apparently all ex PJG clients who have already gone through this braced themselves for a fight and it never happened
CF said it was just an option and the extra year was agreed
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
Yea, I'm assuming the letters are standard and assume everyone is on the new agreements. CF did say that it was mostly formality for creditors and it was they who needed proof of mortgage rejection on file.
If it doesn't state it in your agreement then you don't have to accept it.
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
