Hi, I would really appreciate help on an IVA. I built up a massive debt over 15 years of £177K eventually folding in 2003 by agreeing an IVA for £55K including IP fees. I am 32 months into it, not missed any payments, although I have been a month late twice including this month but am now up to date...

I have heard from my Insolvency Practioner that if I want to settle my 5 year IVA early (25% of my original debt)then I have to find a minimum of 20% of the debt (inc contributions to date after 2 years) is this true and is there a set limit, could 15% be accepted for example?