Page 1 of 1
Posted: Sat Nov 13, 2010 6:57 pm
by adad67
HI,
I have around 8 months left on my IVA I am paying £275/Month in total.
I may be able to borrow £1000 off of my parents, do you think this would be accepted to end the IVA early?
Thanks
Dave
Posted: Sat Nov 13, 2010 7:05 pm
by Julie
Hi Dave,
Your creditors will want to know why you want to finish the IVA early. If you can maintain the final 8 payments, then they will get a better return than the £1000 offer.
Are you struggling with the payments?
Posted: Sat Nov 13, 2010 7:55 pm
by MelanieGiles
If you only have eight months left to pay, I would carry on. £1,000 is not an attractive offer as your IP will probably want to charge a fee for preparing the variation for you.
Posted: Tue Nov 16, 2010 5:14 pm
by Drew
I think you should try and carry on the remaining 8 months unless there is a particular reason you can't afford the repayments. Whatever happens and whenever your IVA completes it will show on your credit file for 6 years (from approval date). You've got this far adad67, the end is in sight.
Regards,
Drew