Is it possible to clear balance of debt in full after two years ?

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Markdt10

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Post by Markdt10 » Mon Mar 30, 2015 1:57 pm
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In an IVA for 2 years and now want to clear the balance of the debt in full to end this and have the stigma removed. is this possible?
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lifenoteasy

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Post by lifenoteasy » Mon Mar 30, 2015 2:02 pm
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If you can get someone to provide the funds to make a full and final offer then yes.

36 times monthly payment (plus 12 more if you have equity in a property) is the rule of thumb.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
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Foggy

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Post by Foggy » Mon Mar 30, 2015 3:02 pm
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As LNE says, third party funds can be used to make an offer.
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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Lisa Thomas

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Post by Lisa Thomas » Tue Mar 31, 2015 9:23 am
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Hi Mark - as the others say yes if you can make an offer from third party funds, such as friends or family. Please note that your credit rating will stil be affected for 6 years from the start of your IVA.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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