www.iva.co.uk

Under what circumstances could iva payments exceed the 5 year term. I have read that sometimes they can go on for 6 years. I have finished my 5 years last month and an worried to see this may not be the end?

Usually a 6 year term is when a majority debt holding voting creditor requests it at the original creditors meeting as a way of agreeing to the iva in the first place. If yours was a normal 5 year term, then unless you have equity to release or arrears which need clearing then it should end after 60 payments, speak to your ip to find out.

If arrears have occurred or a minimum dividend has not been reached, then it can be extended. Were you required to arrange a remortgage to release any equity but couldn't?

Surely your IP would have confirmed to you by now if your IVA was to be extended Jan? I would give them a ring after Easter to check.