Can DFD inrease my payments when I have paid 100 % back ?

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wolfdog

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Post by wolfdog » Fri Nov 14, 2014 2:20 pm
I have 20mths left to pay on my iva i owe 7350.I pay 400 per mth i will have paid 100% back can dfd increase my payments?
Ian Jack
 
 

Michael Peoples

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Post by Michael Peoples » Fri Nov 14, 2014 3:45 pm
Yes. Even if you are repaying 100% of the debts plus fees and costs your payments can increase which would shorten the term of the IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Foggy

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Post by Foggy » Fri Nov 14, 2014 4:58 pm
They can be increased in line with the terms agreed in your arrangement.

The IVA would end early if the payments made cover the full original debt, plus fees and possible statutory interest -- NOT just the amount agreed to be paid over the 60 months.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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