Hello
I'm just over 3 years in to my IVA.
My original debt was just under £33,000. With repayments, some inheritance and PPI refunds, my payments to the IVA are approx £44,000.
I have received a letter regarding a further PPI refund of approx £8000 - could I ask that this be used as a full and final payment?
What you need to check is if this means you have repaid 100p in the £ including fees etc.
If yes then your IVA should cease.
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.
Hi Donna - that PPI refund will no be due into your IVA regardless so if you pay off 100% of the debt, statutory interest and costs in full only then would your IVA come to an end earlier than expected (on assumption you have standard terms).
