I am in the sixth year of my IVA. The final payment was due in March 2021. I have not missed any payments, everything is up today. I have received a letter today from the IVA company to state they are extending my IVA by another 6 months!! I am furious about this. Nearly at the end and then this.
I imagine what they mean is that they are extending the admin period, NOT adding extra payments, probably due to delays caused by covid. All IVA's have a 6 month period built in for closure, which can be extended. For instnace, if you have an IVA and are scheduled to make 60 payments, the term of the IVA will be decsribed as being 66 months.
Best to check with your IP on Monday, but this is usually the explanation.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk