At the end of 6th year of IVA, Aperture wishes to extend my IVA by a year.

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1


User avatar
Posts: 4
Joined: Fri Mar 30, 2018 12:38 pm

Post by iain200 » Fri Mar 30, 2018 12:38 pm
I have come within 4 weeks of paying my IVA off. Initially it was set with DFD for 6 years at £381 per month. The debt was £27032. Some of the debt was joint and my wife paid these additionally she is not in an IVA.
I have now been told that they wish to extend as there is equity in my property which is joint owned for another 12 months at the same rate.
I only found this out as I called to ask about the final payment as I have nothing in writing since DFD went into admin.
I have 50000 equity which is joint however aperture say anything over 5000 will result in another year.
From the start I believe I was missold this IVA as one day before the court etc it doubled from 187 to 381 a month and now this.
My parents were also willing to pay it off however the company took 4 months to acknowledge and then said it would take another two months for a creditors meeting. In this time the debt had halved due to payments made.
I am at my wits end as I believed I was getting to the end of the IVA and now this
Please help


User avatar
Forum Expert
Posts: 28148
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Mar 30, 2018 12:53 pm
I am afraid there is little you can do but comply, assuming the IVA wasn't a six year arrangement to already deal with equity --- your proposal and chairman's report will tell all. Usually a 6 year term is down to a low dividend or NRAM as a creditor.

Regarding miss-selling: The agreement you signed has all of the details in and you will be on thin ice saying you weren't aware, so I doubt such a complaint will get anywhwere. Additionally, regarding the increase, you were at liberty to refuse the amendment and stop the IVA from starting, so, again, I doubt that arguement will get anywhere.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here :

Lisa Thomas

User avatar
Industry Expert
Posts: 7268
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Tue Apr 03, 2018 8:52 am
You need to check your original proposals and modifications - as Foggy says also check the Chairs report.

Most 'standard' IVA terms are to last 5 years plus one year extension.

I can only presume yours was set at 6 years plus one years extension.

Your parents lump sum 'gift' will no doubt need to consider the extra years worth of contributions as part of the F&f offer.
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: ... Z5k9ZcC2MA 01752 786800
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”