Is it possible for an IVA to go on for longer than expected?

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jordan696

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Post by jordan696 » Thu Mar 01, 2018 2:34 pm
My partner was due to have her final IVA payment go out today, but following a call with her IP they have said that this is not the case and that she is actually 14 months in arrears (she has only missed two payments a couple of years back and has had the IVA extended due to this) - Is this possible or is this a mistake from the IP?.

Foggy

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Post by Foggy » Thu Mar 01, 2018 2:47 pm
If she has missed two payments they should only recoup 2 payments --- is she a home owner ? If so, there could also be an extra 12 months in lieu of equity release.
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 : http://foggy.blogs.iva.co.uk/

jordan696

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Post by jordan696 » Thu Mar 01, 2018 2:58 pm
Foggy wrote:
If she has missed two payments they should only recoup 2 payments --- is she a home owner ? If so, there could also be an extra 12 months in lieu of equity release.
Hi Foggy, thanks for the reply. The term of her payments was extended from September 2017 to March 2018 due to the missed payments.

She is not a homeowner either and has recieved no communication stating that the term would be extended.

The last communication she received about the term stated “You’re IVA is due to be completed in March 2018, providing there are no missed payments that need to be made up” and as previously stated she has not missed a payment in that time.

Very confused!

Foggy

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Post by Foggy » Thu Mar 01, 2018 3:04 pm
Ask them for an explanation and for them to point out under which terms of the agreement are they authorised to extend beyond the number of missed payments.
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 : http://foggy.blogs.iva.co.uk/

kallis3

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Post by kallis3 » Fri Mar 02, 2018 10:13 am
Agree - definitely speak to your IP to get this sorted.
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