Iva Troubles

Glr1980 Forumite Posts: 1 Newbie
We are coming up to our 72 months for our iva to finish. The only problem is is that our iva credifix who we got transferred to 2 years ago are saying we owe another 12 months. My paper work states 72 months not 84 months which I agreed to due to owning a house.
Can they really do this?
Anyone else have any problems like this?


  • foxy-stoat
    foxy-stoat Forumite Posts: 6,879
    Eighth Anniversary 1,000 Posts Name Dropper
    They cannot vary the terms of the contract with a variation meeting and you agreeing it.
  • PrettyKittyKat
    PrettyKittyKat Forumite Posts: 1,270 Forumite
    The paperwork would state your basic payments and then a review of your equity would be undertaken and if there is equity which you can't release you would pay an additional 12 months payments instead.

    From the vague information you have given it sounds like your IVA was either proposed at 72 months, or (and more likely) the creditors asked for a 12 month extension of payments as a modification.

    Have you still got the copy of the chairman's report?
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