www.iva.co.uk

Hi

I’ve been in an IVA for nearly 6 years and due to complete on 30 November 2019.

I’ve fully maintained my account by making every payment and sending my payslips in at regular intervals to keep them up to date for reviews. I’ve also earned extra money and made extra payments to cover this so all is complete by 30 Nov 2019.

However today 26 Sept 2019 I’ve received a letter advising my IVA is being extended beyond 6 years and for 6 months to allow my supervisor to review my IVA. When I called I was advised my last payment would be 30 November 2019 but it won’t be finalised until reviewed and that once this happens it will then be sent to the completion team where it could take a further 6 months to finalise this then means 7 years.

Could I of done anything wrong or is this correct I’m really confused and don’t know if I need to accept or challenge this

Thanks for any advice

All IVAs have a 6 month administration period tacked on at the end. Some firms take a couple of weeks, most a couple of months, Aperture takes at least the full 6 months, for no good reason, nearly every time -- are they who you are with ?

Again most firms start this process at the last payment, some even anticipate the end date and 'hit the ground running' . Aperture have a distint and seperate closures department who do not even start the process, or even think about it, until the file is passed to them --- apparently, it often takes a few months to get across the corridor.

standard practice- check your original proposals and modifications to see if 6 months was allowed. Keep the pressure on your IP to close quickly as it shouldn't take anywhere near that long.

Once you complete your final payment into the IVA your Insolvency practitioner will conduct a final review before issuing an IVA completion certificate as it is an important piece of paper which can take up to 6 months to arrive.

When your IP issues the certificate the Insolvency service is also informed. You will be removed from the insolvency register within three months, in the meantime, your IVA should be shown there as completed.