Can you pull out of an Iva?

[Viki.W]

If you now earn enough bonus to repay your debt in full, then yes, you will be expected to repay more than the £14K. Please wait for a technical expert to advise you on this.

[Viki.W]

However, once your IVA has run it's term then as long as you have kept all the payments up to date, then it will conclude. You probably will have just paid extra to your creditors because you could afford to with the bonus, it might not necessarily be the full £21K.

[johnp]

the 14k is only a forcast of likely repayments. I owed originally £23000 im looking at paying bak £19500. i too get a bonus each month and only when I do overtime half has to be paid over im not happy about it but, its better than how things were before surely.
Regards John

[dott1982]

Thanks JOhn O yeah I know its not a bad deal WHich company did you go with if you don't mind me asking and did you just tell them about your bonus and they said you could keep half?

[Rogk21]

Hello forum do you know if i recieve back pay will i be expected to pay 50% of that to my IVA. It does say in my agreement that i have to pay 50% of overtime but doesn't say anything about back pay.

I have paid for 2 years £250 a month i originally owed 28k and projected to pay back minimum of 15k. I've paid 6k so far if i was to offer 9k could i pay it off early? Or would i have to pay much more to cover the 28?

I know thats 2 questions

thanks in advance

Roger

[Lisa2009]

dott1982, surely your bonus payments will be on your wage slips, which will have to be sent to your IP at review time, meaning he/she would find out about it anyway???