Is there any way we can pay off our IVA early ?

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andytracey

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Post by andytracey » Mon Apr 09, 2012 1:14 am
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We are half way through our iva and all payments are up together, i see from faqs sometimes an iva can mean just a one off payment and not for 5 years, is there any way to pay it off early?
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Shining

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Post by Shining » Mon Apr 09, 2012 5:34 am
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Hi, a full and final offer can pay an IVA off early, whereby payments stop.

A full and final offer to your creditors would need to be as close to the original debt as possible and can be funded from a 3rd party.

Is there a reason you would like to complete early e.g. hardship, illness? remember if you're struggling please talk to your IP in the first instance. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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MelanieGiles

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Post by MelanieGiles » Mon Apr 09, 2012 3:23 pm
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Is there anyone who could give you the money to be able to do this, or would you intend selling excluded assets to raise the money required?
Regards, Melanie Giles, Insolvency Practitioner
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