Not been on for a while, seemed like only yesterday my IVA was approved! Anyway just a quick question about PPI reclaims,
Over the last year i have reclaimed over 10k in PPI which has all been sent to my IP. But It now looks like i have paid back 50p in £1 and my IVA is paying 64p in the £1 back, and i still have 3 years left of my IVA, so will it finish early once i have reached the 64p in the £1 or will it carry on till 100% of the original debt is paid off??
Hi. It will continue until the end of the agreed term or you pay back 100% of the original debt plus fees (and, depending upon your individual agreement, possibly interest).
Due to PPI and overtime etc., I have nearly hit my dividend already --- so the next three years will be a "bonus" for my creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
