No, I do not think you need to pay anything extra across.
Speak to your IP about this - they are the only ones who can tell you for definite.
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
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
Hi. Probably similar to mine -- it states that the payments into the IVA will cease at month 60 (assuming all payments made in accordance with teh agreement)but there will be a 6 month administation period thereafter.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi foggy, I had never heard of this before, nobody had mentioned it, the first I heard was yesterday when I received the letter, I'm just praying I don't have any extra payments because I really won't be able to pay it I have paid every single payment since August 2006 I've never been late and never lowered any payments so I have held up my end of the arrangement!! x
It is certainly not usual practice for an IVA to extend by 6 months for the IP to conclude final administration. IPs should run their cases in the manner than when the final payment has been received they are in a position to close them down. What couldn't be dealt with over the five year period, that has to be done in a further six months? It just does not make sense.
Thanks for this info mel, this really does not make sense to me either, I have been so worried about it, I would understand it if there was a shortfall or I had missed some payments but I have never missed a single payment!! Tomorrow can not come soon enough I need to get this sorted, I really don't need the added stress when I am 37 weeks pregnant, I was so happy to be out of debt finally I am just keeping everything crossed that it will all be ok after tomorrow
I am sure you will be fine Lyndsey - try not to worry.
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
lyndseyloo wrote:
I completed my IVA and was informed to cancel my standing order. I then received a letter advising it has now been extended for a further six months for final administration. I now fear I may become bankrupt and as I was advised to cancel my standing order I am already late on payments. Please advise.
hi if you read what your first post says that they told you to cancel S.O.so how can they have a payment ,i would say your home and dry congratulations
I am sure that Lyndsey will be making a positive post tomorrow - I will be looking out for it.
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
I am just a natural worrier I can't help it it is not unheard of to be given the wrong info so I wouldn't be surprised if they told me the wrong info in the beginning I just hope there is a simple explanation for the letter, but if it is all ok I shall be telling them that they should really word the letters better as I don't think the letter explains very much!!
I have paid every single payment since August 2006 I've never been late and never lowered any payments so I have held up my end of the arrangement!! 
x
