I would like to get an iva

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kate.e

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Post by kate.e » Sun Apr 01, 2007 8:21 am
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I would like to get an iva but would prefer to pay it back before 5 years perhaps over 3 is this possible?
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jamesfalla

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Post by jamesfalla » Sun Apr 01, 2007 2:28 pm
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Hi Kate

Welcome to the forum

If you plan to pay an IVA based on monthly contributions then you will not be able to reduce the number of payments below 60 months. If you can pay 100% of your debt back in less than 60 months, then you are unlikely to be able to do an IVA

The only way you can settle an IVA early is if a 3rd party offers a lump sum in early settlement

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk
James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk
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go_4_broke

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Post by go_4_broke » Sun Apr 01, 2007 5:48 pm
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Hi Kate

If you are in a postion to pay off 100% of your debt in around 3 years you might consider doing it via a free Debt Management Plan from the CCCS and saving yourself the hefty IP fees implicit in an IVA.

If your situation is more complex than that please post some more details

-Best


Please view my blog at www.go4broke.blogs.iva.co.uk

'6 years sticking my head into the Lion's mouth of debt !'
Please view my blog at www.go4broke.blogs.iva.co.uk

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