Meaning of extension

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gerald443

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Post by gerald443 » Sat Sep 19, 2020 6:56 am
I have received this today after not hearing from them personally for over 8 months. Completed my last payment in November 2019, sent a email to ask what was going on and received the below in the post, no name no signee.
'Notice of creditors under the Standard Conditions for Individual Voluntary Arrangements (Extension Notice)

'In accordance with the Standard Conditions for Involuntary Arrangements, I hereby give you notice that the duration of the Arrangements has been extended by a period of 3 months to enable the supervisor to finalise the administration of the arrangements'

What does this mean?

kallis3

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Post by kallis3 » Sat Sep 19, 2020 7:20 am
I imagine this has gone out in error. Did you have a completion letter?

I would give your company a call or send an email just to clarify this.
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Foggy

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Post by Foggy » Sat Sep 19, 2020 9:14 am
This is happening more and more with the effects of covid slowing things down.

Every arrangement has a 6 month admin period build in after the final payment. This is extendable on two occassions, once by 6 months and once by 3 months, on giving prior notice. This period is the time between your final payment and issue of the completion certificate ... it could all be finalised sooner.

What this means is that you might have to wait a little longer before being officially out the other side.
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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