I was on a iva for 5 years, near to the last year and a half things went wrong I missed payments and the company I was dealing with wasn't much help. This year I have started a new iva with the same company be they are working under a different name, I'm in this iva for six years. Is this correct?
So sorry to hear that your IVA failed after such a long time.
It will probably be correct, especially if you have a house.
Can I ask why you didn't choose a totally different company?
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
Some IVAs are for 6 years if the dividend is low, or if Northern Rock is one of your creditors. This can, if you own your home, be extended by a further year. The reason for 6 years at the outset should have been explained to you.
Like Kallis, I wonder why you carried on a second arrangement with an unhelpful firm !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Too late now! Best of luck, hope it works out for you second time around. Shame it's going to last for 6 more years given you already did 5 under the previous IVA.
