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Posted: Fri Oct 30, 2009 11:00 am
by Diane.rn
This is my short version! Are IVA practititoners allowed to extend the period by six months. We were supposed to add £160 of a car loan to our £200 a month when that finished but struggled so term extended. DLA for our mildly asd little boy and carers taken into account in our figures but our situation has not got better, worse really. All bills etc paid but we run out of money nearly every week and have to borrow off family. Is £200 a month the minimum? We have been going for over three and a half years now so doing well, but with another six months added on to that so will finish in August 2011.
Posted: Fri Oct 30, 2009 2:10 pm
by Cybus
It may be worth viewing this topic which covers extensions to arrangements that do not require the sanction of the creditors, but of which they need to be aware
http://iva.co.uk/forum/topic.asp?TOPIC_ ... hichpage=1
Posted: Fri Oct 30, 2009 4:27 pm
by Adam Davies
Hi
Good to see you posting again Cybus
Regards
Posted: Sat Oct 31, 2009 1:30 am
by MelanieGiles
IPs can only extend the term of a variation if the proposal allows for this or if they get a specific resolution from creditors.
Posted: Sat Oct 31, 2009 11:49 am
by Diane
Thanks, I think they had a creditors meeting and they agreed to the extension rather than taking the extra £160 a month. We know really that even with the extension we only have less than two years so we may as well just see it through. Just sometimes when we have a bad month moneywise, we start to wonder....
Posted: Sat Oct 31, 2009 12:33 pm
by kallis3
I think we all have those doubts sometimes Diane.
At least you can see the light at the end of the tunnel now!
Posted: Sat Oct 31, 2009 7:13 pm
by Diane
Yes, that's it, light at the end of the tunnel. 22 months to go. How good is that?
Posted: Sat Oct 31, 2009 7:15 pm
by kallis3
Much better than me - not two years in yet and the prospect of an extra year as well!