Extension letter

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jill351

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Post by jill351 » Wed Aug 05, 2020 8:10 pm
I am 8 months into my 12 month extension period and paid for 5 years before that . Never missed a payment or took a break but today received a 6 month extension letter. Does this mean they're extending it again?

kallis3

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Post by kallis3 » Wed Aug 05, 2020 8:36 pm
It may well mean they are looking at the end and some companies use this to tie up loose ends and make sure everything has been paid.
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jill351

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Post by jill351 » Wed Aug 05, 2020 8:42 pm
Thank you. My final payment is due in December, I was worried they were extending after that payment

Foggy

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Post by Foggy » Thu Aug 06, 2020 9:19 am
The 'standard' agreement has a 6 month admin period built in, after the final payment. This can be extended, on notice, twice --- by 6 months and by 3 months. I imagine that this is what they are extending, as a precaution, to cover anticipated delays caused by covid-19. But, as ever, it is worth checking with your provider.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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