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when the creditors meeting is held to see if an IVA is agreed on, can they extend the IVA from 5 years to 6 years without consulting you first to see if your in agreement?

As far as I am aware then yes they can.

Mine has been extended for the extra twelve months as we cannot remortgage.

My understanding is it would be a modification that you should be asked to accept along with any other modifications. Your IP should seek your views on any modifications that will have real impact such as this.

At the initial creditors meeting the creditors will propose amendments. If the creitor asking for a change hasn't the voting "weigh" to alter the outcome it will be denied there and then.

If the creditor can alter the outcome, the proposed alteration -- which could be revised expenditure figures and / or an extension to the term will be provisionally accepted. These alterations should then be put to the debtor ( which is why IP's would like you on the end of a phone at the time of the meeting) and the debtor can say yes or no --- bearing in mind that a NO might see the IVA not accepted.

Up to acceptance the process is a negotiation -- but the IVA should not be put in place unless all parties agree to all terms.

No they can't. All modifications to IVAs have to be agreed by the debtor as well as creditors - but if your IVA proposal gives the IP discretion to extend for good reasons, then by implication you have agreed to this in signing the proposals in the first place.

So would that be the same Mel where you must do 72 months, as per majority voting creditor says so, and this could then again be increased right at the end for another 12 months ?

If a modification was that the IVA should not exceed 72 months, then I would say that this gives the IP the discretion to extend up to that point in time - so long as you agreed to the modification. The IVA could not be extended further without prior consent from debtor and creditors.

Coo. Thank you Mel

We were waiting for the phone call at the meeting and wasnt called until a while after (think it was about 3 hours) to be told that the iva was agreed and that my hubby was for five years and mine for six years. When I expressed my concern over this I was told I had no choice if I wanted the iva?