HI,
I have around 8 months left on my IVA I am paying £275/Month in total.
I may be able to borrow £1000 off of my parents, do you think this would be accepted to end the IVA early?
Thanks
Dave
Your creditors will want to know why you want to finish the IVA early. If you can maintain the final 8 payments, then they will get a better return than the £1000 offer.
If you only have eight months left to pay, I would carry on. £1,000 is not an attractive offer as your IP will probably want to charge a fee for preparing the variation for you.
I think you should try and carry on the remaining 8 months unless there is a particular reason you can't afford the repayments. Whatever happens and whenever your IVA completes it will show on your credit file for 6 years (from approval date). You've got this far adad67, the end is in sight.
