Hi my IVA paperwork says its for 66mths I am 61mths in and contacted my IVA advisors for the date my last payment would be and they say my IVA is 84mths can this be done without my knowledge? I have asked for the paperwork that says 84mths but nothing has arrived.
Have you had any payment breaks or not paid any overtime/bonus in that you should have done?
Did you have equity release?
You need to keep badgering them for an explanation as to why.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
66 months includes 6 month admin period (no payments for these months) -- so a 60 month payment period.
If you have equity they normally extend by 12 months ( which will be in the agreement), so a potential 72 month payment period, plus 6 months admin makes 78 months.
If this is the case they need to explain where the extra 6 months has come from.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It sounds like your IVA was made 84 months at the time so you are right to ask for a copy of the Chairman's Report and evidence of the length. If the increase is due to an extension due to equity then you should have been notified so demand a full explanation from your IP. This does not sound correct.
