I thought after 5 years the IVA would be finished

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narelle
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by narelle » Wed Dec 06, 2017 11:45 pm
How many months do I have left to pay on our IVA. There have been 63 payments made. I thought that after five years the arrangement would be closed down. Thank you
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Foggy
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by Foggy » Thu Dec 07, 2017 7:50 am
Assuming you have a 5 year IVA you need only make 60 payments. It could be that the IVA ws extended at the start to a 6 year, or that it has been extended to cover equity (if you are a home owner) or to cover any missed payments. Speak to your IP and find out why they are still taking payments.

Are you paying by direct debit or Standing Order ?
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