July 2017 is 5 years on my IVA

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Claude
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by Claude » Sat May 13, 2017 8:12 am
Hi in July 2017 is 5 years on my IVA, I've still got to paid my holiday breaks my question is it am finished in July with my payments and complete and the rest of my holiday would be the amount I missed?
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kallis3
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by kallis3 » Sat May 13, 2017 9:03 am
Hi

You will need to clarify with your IP as to when your last payment is due. Do you have equity to release?
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Foggy
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by Foggy » Sat May 13, 2017 9:17 am
You will not complete the IVA until all the monies due ( remaining payments and the missed payments) are paid over and the completion certificate is issued. Most IP's calculate the arrears as the actual amount missed, however, a few do it in months (so if you missed, say, two months when paying £100 per month --- they will expect to simply add those two payments at the end at whatever the monthly payment is at that time, so you could be paying two missed payments at £110 per month ). You need to clarify with your IP as to how that treat these things.
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