Hi all I have been in a IVA 4 years 5 months with 1 year 8 months left . Has anyone dealt with sprout loans to get out of their IVA? The thought of having to do another review fills me with dread cos every year they always put my payments as higher. I've contacted sprout loans and got through the application process.
Any advice would be grateful
hi i have been in the sprout loan for some 27 months and have a letter of compleation form iva my payments were 19 pounds a month more but took me out of the iva some 3 yrs early !!! i can also pay the loan off at any time so if you are in a position to do it i would say YES.. but it is entirely your decision for me it was a no brainer 19 pounds a month and clear of my creditors !!!
hope this helps . P
Thu Dec 02, 2021 3:57 pmnicola715 wrote:
How does this work?
It is a secured loan on the property to pay creditors a lump sum to end the IVA early, if they agree to accept the offer ( some creditors will not accept lump sums funded by early exit loans, as a matter of policy).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi all again ..so far waited nearly 3 months to get as far as a virtual creditors meeting to put forward my f & f offer 6 th December 21 so after this months Iva payment I will only have 15 months left .so wonder if it’s worth it ….loads of paperwork and fees lol
Very anxious moment.
