quick query please

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
 
 

marsha1

User avatar
Posts: 293
Joined: Tue Nov 20, 2007 7:05 pm
Location:

Post by marsha1 » Wed Aug 11, 2010 9:31 pm
Hi, I have just been showing a friend my IVA paperwork as she is looking to go down this route herself.
I noticed that one of my main terms is the duration is 60 months plus 6 months for completion. Can someone explain this to me please? I was under the impression that my term was 60 months only.

Thanks
 
 

kallis3

User avatar
Forum Expert
Posts: 77173
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Wed Aug 11, 2010 9:34 pm
I think you do only pay for the 60 months, the remainder is to sort out creditor payments and completion.

One of the experts will be along to advise further.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

marsha1

User avatar
Posts: 293
Joined: Tue Nov 20, 2007 7:05 pm
Location:

Post by marsha1 » Wed Aug 11, 2010 10:04 pm
Thanks Kallis I was hoping thats what it meant.
 
 

kallis3

User avatar
Forum Expert
Posts: 77173
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Wed Aug 11, 2010 10:08 pm
I hope I'm right![:)]
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:

Post by MelanieGiles » Thu Aug 12, 2010 1:50 am
There really should be no need for an extension - as creditors claims and dividend payments should be sorted out well before the final year.
Regards, Melanie Giles, Insolvency Practitioner
 
 

marsha1

User avatar
Posts: 293
Joined: Tue Nov 20, 2007 7:05 pm
Location:

Post by marsha1 » Thu Aug 12, 2010 7:51 pm
Thanks for the replies. I will ask Declan at DFD to look into this for me.
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”