I'm 2.5 years into my IVA. When I took it out in Jan 08, I was making £315pm payments.
I changed jobs in Jun 08 and increased my payments to £532 due to increased income.
Now I've moved out of my parents and rent a flat 45 miles closer to my place of work.
I phoned DFD to sort out my new payment and we came up with a figure of £339pm. This is fine, except the lady on the phone said I would need to increase the term of the agreement by about a year to cover the decrease in payment.
Does this sound unfair? The way I see it is that I will still be paying more than the original figure, and I'm well on track to pay more than the minimum agreed. The thought of not being out of this for 3 and a half years fills me with dread.
I don't understand why you would have to extend your IVA as you're still paying more than you were originally. I was under the impression that providing the payments don't go below your original payment there shouldn't be a problem.
I'm sure that one of the experts will be long soon.
I doubt if we would look to extend and I completely agree with Skippy. It may be a misunderstanding so it could be worth emailing Declan fron DFD whose details are in the experts section. He can hopefully sort this out for you.
Hi
Yes it does sound unfair. Only when your payments go below the original amount of 315 pounds should the possibility of etension be discussed.
Go back to DFD for clarification
Regards
Thanks for your replies guys. I'll wait for my case supervisor at DFD to make their suggestion. I really wanted to get a steer as to whether or not this proposal was reasonable so I knew how to deal with it once it was made formally.
Hi Guys
This does sound abit confusing actually. Andy - if you would like I can look into this for you to ascertain the full circumstances of your case and help resolve this with you?
