www.iva.co.uk

I have a couple of questions and would welcome any advice.
1. I am 2 months away from completing my IVA and have 3 payments missed due to unemployment. Our practioner failed to make a variation with our creditors so is now chasing for these missed payments. Their advertisement states 60 payments based on what you can afford. These payments were missed in 2005 and only now they are chasing. Am I right to question this as i paid what I could afford and they were notified at the time?
2. I have also been advised that I need to re mortgage my house as per a clause in the contract to pay back the remainder of the debt. We were aware of this clause and tried to re mortgage in year 4. Because we are in a shared ownership property we were unable to release our equity due the lending restrictions and for this reason have not tried since. Have these restrictions been lifted as I now face after 60 months having to consider this when I thought we only had 2 months left.

Hi there, hopefully one of the experts will be on soon to advise you. First of all, congratulations on nearly completing your IVA.

I can't understand why your IP did not vary your payments to make up for the missed payments before this stage, especially if you notified them.

Your IP will need to collect the missed payments from you before he can submit a certificate of due completion, and a meeting of creditors may be likely to deal with the equity situation - you may possibly have to pay an extra year's contributions in lieu of the equity.