Can IVA be extended

andyct64 Forumite Posts: 3
First Post
Looking for advice.

I have an IVA running, set up in June 2020.
All is well, payments made regularly, reviewed in July 2021, no issues.

Just had a letter saying I am in "breach" of contract.
On inquiring about it, my IVA manager informed me that my debts were 15% more than I reported in 2020 and that it wont affect my payments, but the IVA could be extended for another year?

They had all relevant documents before I took out the IVA, so how can they now say my debt has increased? And can the length of time be increased?

Hoping somebody can give me some advice,
Thanks in advance.


  • sourcrates
    sourcrates Forumite, Ambassador Posts: 27,657
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Well have you been using credit ?

    How else could the debt have increased do you think ?

    Your IP has significant powers to extend your arrangement according to the IVA protocol and the terms and conditions that you agreed too.
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  • andyct64
    andyct64 Forumite Posts: 3
    First Post

    No I have been very careful not to take out any extra credit.
    They are telling me that the reason is that my debts are 15% more than I reported when I first took out the IVA?

    I don't understand how this is when I haven't taken out any credit.
  • MrFrugalFever
    MrFrugalFever Forumite Posts: 999
    500 Posts Second Anniversary Photogenic Name Dropper
    Had you forgotten about a creditor when original set up of IVA was completed, sounds like there has been some realisation of additional creditors not privy to the agreement since started?
    the IVA company will complete a full search and sweep of all info on credit report...perhaps its worth checking all 3 CRA’s to see where this additional debt has come from if you’re unsure!

    credit karma
    credit club

    all free and all pull data from different CRA.
    Save £12k in 2023 challenge

    Jan = £715 / £1,000 - Feb = £1,275 / £1,000 - Mar = £400 / £1,000  (fallen behind will make up in April)
    Apr = £ May = £ Jun = £
    Jul = £ Aug = £ Sept = £
    Oct = £ Nov = £ Dec = £

    Saved Total = £2,390 / £12,000
  • andyct64
    andyct64 Forumite Posts: 3
    First Post

    No didn't miss of any debts.
    I phoned them last night and apparently something to do with one of the credit cards I had being higher than I stated.
    But for that to be the case, the 15% would have taken me over the credit limit, which it wasn't, I was never over the limit?

    I have asked them to send me all the details so I can check against my records.
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