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Broke of London
- Posts: 7761
- Joined: Sun Sep 05, 2010 6:04 pm
- Location: United Kingdom
Some people have six year ivas to begin with and other have theirs extended for a number of reasons such as payment breaks or reducing their monthly contribution or a minimum dividend that has not been met. Try not to worry!
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Lola.15
- Posts: 4
- Joined: Thu Feb 16, 2012 9:03 pm
Hi dpdotcom, my IVA was 60 months to begin with however after 12 months I received a letter stating I had not paid enough into the IVA for 6 months and that I should have refered to my original proposal so had to extend by six months, it also stated that a remortgae was required after 4 years however this was not requested by the IVA company until April this year and as this was unsuccessful a further 12 month extension was applied. I have had 1 payment break during the IVA. It has felt like an eternity to be honest but shouldn't grumble and if all goes to plan should be debt free by oct 2013. Good luck with your IVA
