Hi we have about 15 months left on our IVA, we also have a lone that is secured on the house that finishes in May 2015, it is agreed that I will pay the lone amount to the iva when the lone has finished, this will more than double my payments to the iva for the last 7 months. When my iva finishes in December 15 I will have paid back the amount I entered in the iva with and more as my iva company claimed back my ppi. I'm really worried that I will have to pay my iva for a further 12 months as I know someone who had to do this. Has anyone one else been made to pay for a further 12 months? We do have some equity on the house.
Thanks in advance if anyone can offer any advise
If you have equity you will be required to release it or extend --- in most cases it works out better ( if a pain) to extend. All the details will be in your paperwork.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
