In the final month of IVA. Worried that something will happen and it will have been for nothing.

[Huseyin]

I am in the final month of my 6 year IVA it was extended for another year to stop the equity of my house being released which was agreed by all creditors. With some reason my IVA IP has come over the phone and said that the min. dividend will not be reached and will need to be exteneded after confirming to me by email that it would complete this month previoously as March 2012. I have asked for email confirmation but have not received upto now. I am due to complete with final payment on 27.5.2012 but am worried something strange will happen and the last six years will have been for nothing.

[Rob1171]

Having completed 6 years it is in no ones interest for anything to go wrong. Once you have made your paymnet this month ask your IP for an update.

[kazzafunk]

Did you have a minimum dividend recorded on your original proposal? If so then it may be that your IP will need to go to creditors to ask for payments made to date be sufficient to close the IVA.

Email again and tell them that you need to move on and the contradictory email / telephone call has upset you. Ask them to call a variation meeting if the amount is beyond what you can afford. If may be that just a couple of payments would clear this but without seeing the figures it's hard to comment.

[Niobe]

Hello,

Have you checked on your paperwork to see if you need to reach a minimum dividend? If so then it may be that you have to extend.

You do need to speak to your IP though.