i have an equity clause in my IVA its month 54 and no one has contacted me re this as per ther agreement, can this clause still be envoked it they dont contact me in the 54 th month, do they not have a legal abligation to do so with in the specified time scales ?
At the end of the day it is your responsibility to ensure that the terms of the IVA are adhered to --- your IP is only the supervisor of an agreement between you and your creditors. Give them a prod to get the ball rolling and, in the meantime, brush up on the exact wording and meaning of the clause as written in your own agreement, so you can keep them on the straight and narrow.
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
I waited for contact regarding equity and it lead to my payments stopping briefly which sadly added a month to my finising date, wish I had contacted the company. A month is a long time when waiting for that completion date.