If my IVA is extended due to non property equity release, is it 12 months at the usual monthly payment amount and does the IP need to carry out another report and statement of affairs on month 72 with a possible increase to the 73/84 month payment if there is a small increase in disposable income or is the fourth annual report the final review and it covers the final 2 years until closure
It should be extended by a maximum 12 months at the level of payment you can afford at that time, so your disposable income will be reviewed at the end of the fifth year, to see you through the sixth. If the equity sum to raise is smaller than the equivalent of 12 monthly contributions, you will only need to pay that amount for however many months it takes to clear.
Hi there,
I'm at the end of '60 month term' now. No one from BlairEndersby has contacted me at all, despites my million requests to speak to my IP (I was never be able to speak to him - not even once since the day one).
According to the proposal I should be releasing £2400 from my property which has gone to negative( or equal) equity.
And as my circumstance has changed I hardly have any diposable money at the moment.
So far I have paid total of £18960 ( of £32000 originally borrowed) with some help from my friends and family members.
What is likely to happen next? Will I be able to speak to my IP before next(and final?) creditors meeting (due in July)?
