can you tell me if the IVA should end sooner?

3 posts Page 1 of 1
Post Reply
 
 

natalie.t

User avatar
Posts: 1
Joined: Mon Aug 04, 2008 11:16 pm
Location:
Post by natalie.t » Mon Aug 04, 2008 11:17 pm
Quote
I took out an IVA 2 years ago. 2 months into it, I changed jobs, and began earning commission. According to the terms of the IVA I have been paying 50% of this into the IVA each month, and I am trying to find out whether this will end the IVA sooner? So far I have paid around an extra £2'000, can you tell me if the IVA should end sooner?
Top
 
 

indebtforever

User avatar
Posts: 505
Joined: Sun May 18, 2008 12:11 pm
Location: United Kingdom
Post by indebtforever » Mon Aug 04, 2008 11:20 pm
Quote
it depends if you pay the total back in full with fees and interest the extra you are putting in comes off the overall balance not the amount that creditors were going to recieve the full debt
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Tue Aug 05, 2008 12:07 am
Quote
Your IVA will only end sooner if you manage to clear all of the debts in full together with the costs of the IVA.
Regards, Melanie Giles, Insolvency Practitioner
Top
Post Reply
3 posts Page 1 of 1
Return to “postings for august”