When do iva payments end?

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lifenoteasy

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Post by lifenoteasy » Tue Jan 12, 2016 8:18 pm
Simple question - if an iva started mid September 2011 for example and the first payment was made available for the creditors meeting when would the last payment be if a standard 60 month agreement?

I would say 60 months ends mid August 2016 but being told payments go right up to the end of the month in which iva started I.e. In this example September 2016.

Surely that means the iva is longer than 60 months?
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

kallis3

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Post by kallis3 » Tue Jan 12, 2016 10:16 pm
I think you need to challenge this - you should not have to pay past the 60 payment date.
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lifenoteasy

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Post by lifenoteasy » Wed Jan 13, 2016 7:19 am
It has been challenged and that's why I'm coming back to the board - I will get a more sensible response.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

relieved33

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Post by relieved33 » Wed Jan 13, 2016 7:45 am
We had 60 payments in total.
 
 

vito

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Post by vito » Wed Jan 13, 2016 8:33 am
Your posts in the previous thread got me thinking about my completion date + last payment.

My IVA started on the 28/29 July 2011 - My first payment was sent on the 12 July.

CF said the end of July is the last payment, I thought it would be mid June, scratching my head I put the dates here and it came up mid July http://www.timeanddate.com/date/dateadd ... =&ad=&rec=

Hope you get it sorted, not sure whats going to happen with mine.
 
 

lifenoteasy

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Post by lifenoteasy » Wed Jan 13, 2016 8:42 am
I kind of agree with the date that you have come up with BUT our first payment was available at the creditors meeting.

At the very least our payments should not go past the date that is on the insolvency register unless we were paying 1 month in arrears.

Effectively the month 1 payment starts from the date of our meeting.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed Jan 13, 2016 11:27 am
If you had to make 60 payments then you should only make 60 payments...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

lifenoteasy

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Post by lifenoteasy » Wed Jan 13, 2016 11:38 am
Apparently this is best guess as staff at the IVA company in question cannot access our file at the moment.

We were only transferred to them 15 months ago:(
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
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