www.iva.co.uk

GT want more money, 12 months after our 60 monthly payments, GT have phoned to say we are in arrears because we didnt pay the additional 12 months instead of releasing capital from our property,but it was GT who emailed us last may telling us it was ok to cancel the direct debit(actually thought we had overpayed by two mths!!)now 12 mths on they are asking for the additional money,and we have been in closure since july, what a cock up,where do i stand? i am under the impression all payments have to be concluded within 72 mths? they want me to send a morgage balance/summary to the progression manager, which i am prepared to do, but to me this looks like they want to put us back 12 mths and restart payments again, can they do this or can i fight my corner since they stopped the payments,surely this should have been picked up in july by the closure team?

Hi and welcome

You will need to comply or run the risk of the IVA failing. Try to work with GT, your goal is to get that completion certificate

Regards

Did you realise that you should be making the 12 extra monthly payments in lieu of equity?

As Andy says I woukd chat to them but ultimately expect to hand over the money due as they could still fail the iva even at this late stage.

Paul

hi plasticdaft, i understood that the extra 12 mths could be included but just thought we had satisfied our obligations as we met our % in the pound etc and there was no mention of it when we completed,hope we can resolve this with GT but gutted to think we were nearly at an end and we obviously are not!