www.iva.co.uk

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.

lyndseyloo - welcome to the forum. Does the letter say anything about further payments ? - if so and you dont agree you are certainly encouraged to disagree with the IVA company

If the letter does not mention anything about further payments - it may be finalising for closure - this seems to take anything from a few weeks to a couple of months.

Best thing is to speak to your IVA company Case Manager and query the letter etc.

Hi Ginger,

Thank you so much for your reply, the letter does not actually state that I have to make further payments but it does say that as a result of the extended 6 months the IVA is now due to End in February 2012 so I assume I still have to pay which I know I shouldn't assume however I am a born worrier and now have had a very restless weekend, I am due to give birth in 2 weeks and am now on Maternity pay so really cant afford to make any more payments, its just typical that the company I am with are closed at the weekend so they cant help me until tomorrow, I am so worried about being made bankrupt as I cant afford to make any more payments due to personal circumstances and it seems so unfair when I have maintained my payments for the last 5 years (60 months)

Thanks

Lyndsey

i think what they mean is to allow till feb to get the iva paid out and to allow for your compleation certficate to be sent.
if your not sure phone them to clarify what the dates mean.
still think its too long to wind up your iva when they have been running it for 5 years.

I'm pretty sure that's what it means, I did post this on Lyndsey's original post.

I do hope your right guys I will call them first thing tomorrow x

That's strange, and I hope it's as the others say. Just an extension to get the IVA completed. No wonder you're worried - I would be too.

I realise how lucky I am to have Mel as my IP. At least she's available a lot of the time, not least of all, on here.

I am sure you will be fine Lyndsey. Let us know how you get on.

I will thank you guys

It is usual practice for the IVA to run for six months after the last payment to sort the admin stuff out. you will get your certificate of completion sometime in this period.

Don't worry, this is all quite usual.

Well done for completing your five or six years.

Regards

Not all companies do this IvoryFalcon - Mel has just done one within a week.

Who is Mel?
I've sean her mentioned on a few threads not...

kallis3 wrote:

Not all companies do this IvoryFalcon - Mel has just done one within a week.

Mel is Melanie Giles who is an IP with her own company.

Hi ivory you say this is normal practice for it to go on for another 6 months to complete the admin but am I expected to still pay for another 6 months??

Thank you

Lyndsey

no you should not pay anymore money over.
its just they are taking the max time to tie up the ends of the iva and get you the certificate of completion out.
if it takes that long then ill eat my dinner[:D]