just thinking.............if my IVA has been extended, can I pay it off early ?

[Eggs are ace]

just thinking.............if my IVA has been extended due to a payment break, can I pay this off early? ie in a lump sum

Essentially completing my IVA in the 5 years with no extensions..........that would be amazing!

[relieved33]

Yes but I would get it in writing saying what payments you will make and when and stipulate that it's clearing the amount. Get written confirmation.

We took a couple of payment breaks, one we paid back monthly until it ended and one extra month tagged on at the end.

[Foggy]

As long as the lump sum is from third party funds, which would be best, or legitimately saved from your allowances or share of overtime etc. there would be no problem.

[Lisa Thomas]

Hi - yes base it on the amount of payments left less a saving on administration costs etc.

[esgt1967]

My husband took a 4 month payment break - just before end of second year - and we have decided to save as much as possible over next 3 years to repay "arrears" rather than extend it as he is likely to have to extend anyway due to equity. IP has confirmed this is fine.