www.iva.co.uk

Help panic stations, final payment 16th March , confirmed by my caseworker at cleardebt who cancelled the d/d, today received my report for the 5th year which says that Gareth Neil applied in January to extend for 12 months, does this mean I have to pay for this extra time or is this to allow further time for completion ?.
I have no equity and my original proposal was maximum 60 payments plus 6 months for realisations and admin., any advice would be welcome, as we started the iva when we were already in our 70s,we ran out of money before we ran out of breath, thank you in advance.

Hi,

Have Cleardebt given you a reason for this? Was it to do with equity in your house?

hi kallis3.we live in rented property we have been here 10 years,no other equity, the extension was applied for by Gareth Neil Aperture and was applied for in January , we did not know we were with them until March, when we had a letter from them which said as you are fast approaching the end of your iva please send the bank statements p60,s and evidence of any additional income which we did . Than k you kill is for your time I do appreciate it.

Is this an extension of payments, or an extension of the post last payment admin period ( usually 6 months)? I imagine the latter -- but they should a) have good reason and b) give you prior notice.
Most arrangements have a clause allowing for the admin period to be extended twice, once for 6 months and once for 3. Have a look and see what yours says in this regard.

This is the problem with companies selling out to other companies - there is such a lot of confusion at the moment.

Apologise for not reading your original post properly about the equity!!

The letter says for the service of the progress report it be extended to the next review date which means very little to me, I hope you can understand it.

When would the next review date be?

The important thing is what it says in your original paperwork and chairman's report. Your new IP can't just make things up as he goes along (even though he has a history of doing so!).

I presume it is in March 2017. My letter telling me I was fast approaching
The end of my our iva,s was received in February this year, and I thought my final payment was in March this year which is the 60th payment they cancelled the d/ d so I thought all I had to do was wait for our C/c,s thank you kallis.

Check your original paperwork and then speak to Aperture and quote it to them if it says that you should have finished this year.

My original paperwork States in duration maximum 60 payments plus 6 months for realisation and admin

In that case then they should not be able to extend any further. If you have made your final payment then that should be it.

Speak to them on Monday and/or email a copy of your original document.

Thanks Kallis, I am trying hard not to panic at the moment, David Mond said in his statement when passing us over to Aperture if any cleardebt customers experience any problems to get in touch with him, what do you think?.

You can email him - can't hurt. I do have contact with him off forum so have messaged him - hopefully he will be in touch.

I would definitely recommend that you speak to David. He is very pro-active and generally tries to sort problems out.