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Iwona10
- Posts: 4
- Joined: Tue Mar 03, 2015 9:12 pm
Hi. Me and my partner are on IVA since January this year. There is possibility of change in our income. If our debt is arround 10k and we will pay that of in two Years is the IVA complete after that or do we have to pay full 6 Years no matter what amount we will pay.
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luluj
Forum Expert
- Posts: 11333
- Joined: Sun Dec 09, 2007 6:54 am
- Location: United Kingdom
You will always owe the full amount of your original debt plus IP fees and possible statutory interest.
If you reach payments of this amount your iva will end and closure certificate will be issued however your iva will remain on your credit files for 6 years from the date it started albeit showing as completed.
The insolvency register will be cleared once the certificate us issued.
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