can i give my whole wage to finish IVA early

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trumpet.player

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Post by trumpet.player » Sun Jun 17, 2007 8:15 pm
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Hi all, While paying an agreed monthly amount for 60 months, can i give my whole wage per month to finish the IVA early?
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Skippy

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Post by Skippy » Sun Jun 17, 2007 8:30 pm
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Hi Trumpet Player and welcome to the forum. If you were to pay all your wages into your IVA, what would you live on? Unless you can pay off 100p in the pound, or make an offer for a full and final settlement paying extra money into the IVA will not shorten it, only increase the dividend to your creditors.

Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.

View my blog at http://skippy13.blogs.iva.co.uk/
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MelanieGiles

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Post by MelanieGiles » Sun Jun 17, 2007 10:52 pm
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You ought to be paying contributions at an affordable level into your IVA, so - as Skippy has already mentioned - I cannot see how you will be able to afford this suggestion.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
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