my iva should be off in feb 2015 grant thorton have just told me its not off till feb 2017 meaning i will have paid for 8 years is this legal as i thought it was 5 and i have paperwork to prove it but they said i will need to carry on paying.
Have you checked your paperwork (including the Chairman's Report) ? It is possible that the IVA was extended to 6 years at the start.
Has equity been addressed (do you own or rent) ? That might lead to a further extension for 12 months.
Have you missed any payments or not paid in overtime or payrises that need to be caught up ?
Was there a minimum dividend which isn't going to be met? This has happened in a few cases which GT bought in from other firms. Were you with GT from day one?
Ask GT for a detailed explanation as to why the extensions.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
