Can the IVA get extended?

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raj584
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by raj584 » Fri Aug 25, 2017 5:53 am
Is the IVA fixed to a five year term or can it get extended.
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kallis3
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by kallis3 » Fri Aug 25, 2017 7:43 am
Hi,

Depending on your circumstances and whether or not you own property with equity, yes it can be extended. If you take a payment break, this can also be added on at the end.
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Foggy
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by Foggy » Fri Aug 25, 2017 8:09 am
It can be extended, but only within the agreed terms. Additional payments for equity release, for instance, or to make up a payment break or arrears. The administration period at the end can also be extended if need be, but this does not mean additional payments.
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Lisa Thomas
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by Lisa Thomas » Tue Aug 29, 2017 1:48 pm
Why would you want to extend it?

Are you already in an IVA? Do you need a payment break?
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