www.iva.co.uk

im currently in an iva.I pay 282 a month i have been in this iva since 2009 thats three years I currently owe more than 23000 i have paid 2680.75 so far into this arrangement but in 2010 me and my wife had our first child there for the iva was frozen for 9 months my wife is back at work but only part time we had to buy a bigger car for our child so varden nuttal agreed to defer 1000 for 5 months on to the end of the 60 months which we why fine with but then more of our bills were coming in and it was only this year my wife found work and we were in arrears of 839.75 which equates to 3.5 months they now are saying that they will add another 15 months onto the end totalling 80 months which in this time i would of payed my creditors the exact amount plus more as i have to pay them there fees!! need help will explain in more detail if i can get some sort of help. regards alan.

Why are they saying that they you need to add on a further 15 months?

Hi Alan - I agree with Skippy, you need to find out why they are adding 15 months on. It would have made more sense to ask the creditors for a variation meeting as there was a change in income.

Email your IP for clarifaction and keep us updated.

I really think you need to have a conversation with your IP and ask them to fully explain there request ..... It seems quite a lengthy extension, but thy may have reasons for t.

Is the 15 months for arrears and payment breaks? Could it be for equity you cannot release? Do you have a minimum dividend to meet? You really need to find out why they are asking for another 15 months. You aren't allowed to speak to the IPs at Varden Nuttall but ask your case manager to talk to your IP. Good luck x

Hi Alan,

If you would like me to arrange for your customer service advisor to contact you to discuss your options please drop me an email. I cant really advise you on your situation without knowing the details of your case.

Kind regards,

Gareth