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Custard_Pie
Posts: 364 Forumite
in IVA & DRO
Having read about something similar on here, made me think about my situation.
I am just about to embark on the IVA journey after the creditors meeting. I have a buy-to-let property, but wanted it kept out of the IVA as it's my pension instead of having a pension policy.
Due to this, I have an extra 12 months bolted onto my IVA where the payments almost double due to calculation of the currrent equity in the property.
Can the goal posts move as I approach the end of the IVA?
I am just about to embark on the IVA journey after the creditors meeting. I have a buy-to-let property, but wanted it kept out of the IVA as it's my pension instead of having a pension policy.
Due to this, I have an extra 12 months bolted onto my IVA where the payments almost double due to calculation of the currrent equity in the property.
Can the goal posts move as I approach the end of the IVA?
Search my post " PoPLA evidence - What to submit" on what is a good defense for a PoPLA appeal.
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Comments
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Have creditors accepted your IVA?
If they have accepted they then cannot change their minds0 -
Custard_Pie wrote: »Having read about something similar on here, made me think about my situation.
I am just about to embark on the IVA journey after the creditors meeting. I have a buy-to-let property, but wanted it kept out of the IVA as it's my pension instead of having a pension policy.
Due to this, I have an extra 12 months bolted onto my IVA where the payments almost double due to calculation of the currrent equity in the property.
Can the goal posts move as I approach the end of the IVA?
As a rule I would say no, however, variations can be sought, from both sides, its complicated really, the IVA should go through ok, it depends if in year five the creditors want more money from you than you are willing to give, if you are paying the max you can, I see no problem.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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