www.iva.co.uk

Hi,

If i wanted to repay my IVA early... if say my parents were happy to step in and pay it would this be possible? Or would the creditors want 100p in the pound back?

Many thanks.

You could propose via your IP a full and final offer to repay your iva,but you would need to offer close to the original dividend and creditors would perhaps want a reason to no just let the iva carry on until it completes,eg loss of income,impending divorce etc etc.

Your parents could offer a lump sum IVA as a one off payment and you could use your surplus to repay them. This gives creditors the money quicker and also tranfers the risk of you defaulting from the IVA to your parents.

Hi, what is the orignal dividend, 100 p or what i am paying the the pound?

Many thanks

The original dividend is what was agreed at the meeting of creditors. It would be listed on the Chairman's Report after taking into account any modifications proposed at the meeting of creditors.