Having being on Iva for 8yrs and paying each month for that long how will I know when to end it. I read about people saying when their one is ending. I do not see the light yet. I use to be with spectrum and after 5yrs they changed it to money village and still paying monthly payment. Please I need help. I want to know what to do.
Hi Liz .. this sounds odd ... most IVA's are for 5 or 6 years ... although they can go on longer. Do you have your original paperwork ? That will detail how many payments are expected. If not, ask your IP for a copy ... and check that it is an IVA and not a debt management plan.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Are you sure that you are in an IVA, rather than a DMP? An 8 year IVA is quite unusual, especially if you don't know why it is for that period - do you have arrears which you are repaying?
An if you are in an IVA, is your new IP providing you with annual reports - if so what have they been saying about the duration?
