monthly payment

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goulda

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Post by goulda » Wed Apr 23, 2008 5:39 pm
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At the start of my IVA the clause regarding my monthly payment was 60 installments of £700.

At my last review this was increased to £757, I reckon that at this years I/E review this figure will be less due to increased expenditure - I have a clause saying that my IVA can be extended to 60 months.

What I am asking is do my monthly payments have to fall below £700 before the extension kicks in or is it if they fall below the increased amount of £757

Might be a question for the experts or has anyone experienced the above and are repaying beyond the 60 months if so what happened to them
A. G. Gould
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luluj

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Post by luluj » Wed Apr 23, 2008 6:32 pm
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It can only be extended when you can no longer afford the original agreed sum of £700.

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MelanieGiles

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Post by MelanieGiles » Wed Apr 23, 2008 10:05 pm
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Luluj is correct here - the original offer is the guideline.
Regards, Melanie Giles, Insolvency Practitioner
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goulda

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Post by goulda » Wed Apr 23, 2008 10:55 pm
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thanks for the info
A. G. Gould
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