Extension notice for 6 months to finalise the administration of the Arrangements

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darren990
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by darren990 » Fri Jul 14, 2017 6:00 pm
I had a Iva for 6 years and just paid the last payment also I paid off the payment holidays that we took.I was told i have nothing else to pay and now has gone to the completion team which could take up to 4 weeks.Today i have received extension notice for 6 months to finalise the administration of the Arrangements.Can they do this?

Thanks Darren
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Foggy
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by Foggy » Fri Jul 14, 2017 6:30 pm
Usually there is a 6 month period built in to the term ... Under "Duration of the Agreement" (or similar) in your proposal will be the term of (usually) 60 payments, but the term will be 66 months. This is usually extendable, on notice, twice: Once by 6 months and once by 3.

They are not asking for more money, but more time. Ask them to justify the request.
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