www.iva.co.uk

I'm in the last year of my IVA with 9 months to go! I've just received a letter from my IP stating their extending my IVA by 2 years!!!? And I can't understand WHY?

Hi,

I think you need to speak to your IP company to find out what is going on.

Have you missed any payments at all?

They have left it a little late to pass on this sort of news. Make an urgent call to their offices to find out exactly what is going on.

Thanks everyone I'll try to contact my IP Tomorrow and let you all know how it goes!

MelanieGiles wrote:

They have left it a little late to pass on this sort of news. Make an urgent call to their offices to find out exactly what is going on.

I wonder if you will be able to get hold of them on Saturday?

Hi Helen
The letter states that the 2 year extension is required to "allow time for the realisation of assets?" But I don't have any assets!!!

My house was sold years ago and 80% of my equity went towards the IVA!!! As have 50% of all my bouses and I have never missed a monthly repayment for 4+ years!!!

I'm at a total loss as to why this extension is required!

/

Helen wrote:

Hi sb

What does the letter say? they must of given you a reason on the letter?

Have you been in touchwith your ip?

xx

What a lot of nonsense. I suspect that this is a data processing error - but one which should not have occured.

God I hope so Melanie!! Otherwise the last 4 years have been a complete waste of time and sacrifice!!
I'll probably get a response from them on Monday and will let you know! Thanks anyway x

MelanieGiles wrote:

What a lot of nonsense. I suspect that this is a data processing error - but one which should not have occured.

I do hope you get this sorted in your favour and it is an error. Do let us know won't you?

I hope you get it sorted as well.

Yes, and remember if you get the run around when you speak to your IP (i.e. it's not a simple error) then do come back here for more help

Really hope its an error and you get it sorted. Good luck xx

Hello again,

I finally got hold of my IP today and they explained that the extension letter was a "standard" procedure for them to allow creditors to claim from from my IVA Account. Thankfully, they assured me that it didn't mean I'd have to continue payments after the 5 years are up at the end of October.

They also admitted that 2 years for creditors to claim did seem "over the top!" But that it was a procedure to protect their company!!

Anyway. I can now sleep a bit better so thank you all for your support.quote]Originally posted by MelanieGiles

What a lot of nonsense. I suspect that this is a data processing error - but one which should not have occured.
[/quote]

This does not make sense - are they seriously saying that they don't close cases for 2 years in order to give creditors the opportunity to claim! It sounds to me as if you have been speaking to someone who does not understand the process.

Thats great news!

I do think they should review their standard procedures..what a waste of money sending letters like that and causing unnecessary worry.

At least now you can countdown the months, hope it flies by for you [:)]

xx