Completing with funds paid to date ?

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Nicholas.96

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Post by Nicholas.96 » Thu Jun 28, 2012 11:16 am
what does it mean when creditors will consider completing the iva final with the funds paid to date when your disposable income drops?
 
 

Tina Shortland

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Post by Tina Shortland » Thu Jun 28, 2012 11:19 am
Ni Nicholas.96 - it means should you find yourself in a postion where you cannot continue with your payments or they have dropped significantly, your IP can put fwd a variation to the creditor to see if they will accept all the payments you have made to date as settlement of the IVa - i.e if you have may 50 payments instead of 60 would they accept it at 50 and compplete your IVA with no more payments to make.

hope that makes sense!
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

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