Iva help

in IVA & DRO
7 replies 1.7K views
I am near the end of my 6 th year of my iva. I was asked to remortgage due to equity clause. As unable to remortgage have been asked to oay a further 12 months taking it to a 7 year iva.

However there was a condition added to the iva by one of the creditors stating we should not make more than 72 payments.

I queried this with the iva company and they said it was "ambiguous " and would have to hold a creditors meeting to decide whether they would honour it. Surprisingly they said they wouldn't and I would have to pay the further 12 payments making it an 84 month iva.

I would like to know if it is legal for them to do this


This discussion has been closed.
Latest MSE News and Guides

Martin's debt costs masterclass

Eg, balance transfer up to 35 mths at 0%

MSE News

£80 GHD Original IV Styler

Via MSE Blagged code (norm £109)

MSE Deals