IVA ending. Can they keep extending the terms?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
User avatar
Posts: 1
Joined: Sat May 13, 2017 12:57 pm
by gareth604 » Sat May 13, 2017 12:57 pm
Currently ending my IVA. However I have some outstanding monies, can they keep extending the terms? I was under the impression debt would be written off at the end of the term.
User avatar
Forum Expert
Posts: 23217
Joined: Fri Dec 17, 2010 11:14 am
by Foggy » Sat May 13, 2017 1:02 pm
What do you mean by "outstanding monies" ? Any outstanding debt will be written off, assuming you have fullfilled all of your responsibilities ander the agreement. They can usuallu only extend for equity release, to make up lost payments, or reduced payments, or, rarely, if a new creditor comes out of the woodwork and you need to increase the dividend.
User avatar
Forum Expert
Posts: 71637
Joined: Mon Mar 17, 2008 4:02 pm
by kallis3 » Sat May 13, 2017 3:38 pm

I think we need a few more details before can advise further.
User avatar
Lisa Thomas
Industry Expert
Posts: 5851
Joined: Wed Dec 03, 2014 10:26 am
by Lisa Thomas » Mon May 15, 2017 8:15 am
If you mean you had arrears, or took a payment break then this needs to be caught up before the IVA can end.

If you have paid all your contributions and all assets paid over per the IVA then your IVA should finish.
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 11 guests