I'm nearing end of an IVA and have learned to live within my means.Initially , my debt was £18000, on IVA it was reduced by £5000, in total I was asked to pay £13000. over 5 years. In the final year, my husband had a job and had extra income , so they doubled the instalment to £541 a month over the last 12 months. So I've paid £ 243x48 months plus 541x 11 months , one more to go. Now, I'm due for a review and have nearly paid the initial amount. After the income and expenditure review ,if I have excess funds , will I have to continue paying into the IVA? When will it end?
A lot will depend on whether you have a mortgage and there is equity.
I'm a little confused about why your contributions doubled unless you are in dn interlocking iva with your husband.
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.