If you have overpaid your IVA with commission uplifts would this ever be accepted as full and final if your circumstances change during the IVA. I think what I have paid up to year 3 equates to 40p in the pound of the total debt.
It is ultimately up to creditors, but it all helps sweeten the deal.
My circumstances changed drastically during my IVA, and, helped by overpayments and PPI refunds, my creditors accepted payments made to date as a full and final.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I ended up paying about a third of my original debt over 2 and a half years --- which, coincidentally, was the amount agreed to be paid over the term, so my creditors still got what they signed up for, thanks to overpayments and PPI.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
We had about 20 between us. It all depends upon the nature of the change of circumstances ---- in our case, suddenly having to run two households with me becoming a single parent, our IVA's would have failed as we had no disposable income anymore. The creditors would have got nothing under BR, so took the sensible route and called it quits.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Same here Foggy, I took a new job which was advertised as higher pay but I was earning less when I got there. Plus fuel costs were then over £200 a month. I left as it was awful there thinking I could find another job but I'm struggling to find one which will give us a disposable income so if they don't accept we will have to go BR
