so my IVA is £150 per month.
I have 12 months left of a 6 year IVA
I am desperate to start a remortgage ASAP after the IVA is over, but I have heard it takes upto 6 months to get the completion certificate and presumably, get the Land Registry warning removed.
Would it not be prudent to pay off the last 6 months by borrowing from family? I mean 6 x £150 would be £900, is that right? Or is the final total the full debt? I'm confused.
If it's the first amount, it would be greatly in my favour wouldn't it, to pay off early, then go for remortgage as soon as the iva is finished?
Sadly as you only have 12 months left and probably be 9/8 months by time there was a meeting, creditors wouldn’t agree to it as there isn’t much risk now you’ve paid a lot already. You will have to ride it out
Bearing in mind that the timescales mean the creditors are saving nothing and, indeed, a variation meeting would cost them an extra 3 to 5 hundred in fees, there would be no appetite in putting such an offer forward.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.