Thank you Foggy and kallis3 for your thoughts on the matter - they help my understanding a lot. The basic answer to my question is summed up by one of Foggy's comments: "The extension is for 12 payments at monthly intervals". I can now see the pitfalls of trying to speed things up to gain an earlier...

I have now completed the first 5 years of an IVA. As I was unable to release equity at the end of 5 years, the IVA was extended by a further 12 payments. I have now asked the same question to my IP three times, and failed to obtain any answer at all. My question is very simple: Is the extension to m...

I am almost at the end of 5 years of my IVA. I passed the state pension age very early in the IVA. When I entered the IVA I had an interest only mortgage that expired on reaching state pension age. In discussions with my IP at the time, I was told that if the IVA ends after state pension age and aft...

A family member has offered to donate it if I can clear it.

What's to be gained is freedom! How much are the costs likely to be?

If an IVA only has a small number of months left to run, how realistic is it to pay a lump sum equivalent to the remaining payments and finish the IVA early? e.g. a 60-month IVA with only 8 months left.

Thank you for your observations Melanie. I'm no legal expert - just someone with a serious concern. As far as I know, the Welfare and Reform Act 1999 does not ringfence pension funds from insolvency; it ringfences pension funds from bankruptcy (but not necessarily all income from a pension fund) - s...

This could be a ticking time bomb with profound impact on IVAs and private pension funds. Removing the restrictions on the use of pension funds was a highly political move - according to the National Statistics Office, more than 50% of the wealth of the wealthy is tied up in pension funds - so this ...

You could also try Metro Bank. They say they do have some people in IVAs. It seems to be a branch manager discretion.

Does anyone know if credit unions normally do credit checks leaving a footprint? Some seem to offer current accounts - that could help to achieve zero monthly fees.

Interesting - let's consider a concrete example. I manage to obtain additional part-time earnings for one month and those earnings will take me above the annual amount used to calculate the IVA payments. Additional earning in 1 month: £2500 Tax: £500 (I don't need to take NI into account) Commuting:...

I suspect I have a couple of grey areas that will need to be handled as the IVA proceeds: (1) tax, and, (2) commuting costs (my main part-time earnings can only be achieved after substantial commuting costs into London). My view is that earnings must be considered net of tax and travel before any 10...

Thank you for all your observations. I lodged formal complaints. I have now had a response, an apology, and an assurance I will receive no more calls. I did offer my services as a consultant (that organizational field is one of my specialities) if they are not able to deal with it. I'll see if they ...

My IVA creditor meeting was 22nd Oct 2013 - it was approved. Barclaycard was one of the creditors. They seem to have an aggressive debt recovery unit called Mercer. Even though Barclaycard voted for the IVA I keep getting phone calls from Mercer. The worst has been this morning - 2 early phone calls...

Interesting thread. I receive various pensions and intermittent part-time earnings. My monthly IVA payment was worked out averaging all sources of income over a year. Is there a risk that now the accounting should be done on a monthly basis? Also, all figures were taken as gross. What happens about ...

No debts, and probably not even a presence in the credit reference agencies - has never taken on any debt yet.