I'm supposed to be finishing my iva in Nov 16 but a few weeks ago I had a phone call stating that I owe roughly £2000 from year 2 of my iva if that's the case shouldn't they have told me in year 2 and not a few months before it was supposed to end, also will I get new paperwork with a new end date and surely if I owed money from year 2 they should have amended payments to reflect in yr 3/4/5.
It is probably something that has recently come to light in the final checks. Yes, they should have picked this up sooner, but it is still payable, assuming you agree that you DO owe this amount --- have they explained where they got the figure from ?
You will need to discuss with your IP how this sum is to be paid --- probably by extending the IVA at your current payment level until this amount is covered.
But, first things first -- get confirmation that you do actually owe this and an explanation as to why ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I agree. You should ask for a full breakdown in writing of the calculations and an explanation from the IP of why it has taken so long for this to come to light. If you do owe the money it could be a breach which the IP did not act on for three years so they may not be totally fault clear here.
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
