www.iva.co.uk

Hi, I have been reading the posts on this site for a few weeks now and have found it to be a fantastic source of information and support. I am waiting for a date for my creditors meeting and fingers crossed they will accept. I am using Payplan and they have proposed £106 per month over 60 months. I was wondering if anyone has much experience of making a full and final settlement offer quite early into the IVA? My girlfriend has told me that she may be able to give me £5000 in a years time, after I have paid £1272 into my IVA. Will an additional payment this would equal 48 months worth of payments. Has anyone done anything similar? And finally, if it was to be accepted, would the debts later show as satisfied on my credit file? I need to have a clean credit rating as quickly as I can. Not for the purpose of obtaining credit but for my next job. Thanks!!

Hi and welcome.

You can offer a full and final at any point during the IVA but it will normally need to be as close to the original dividend as possible.

I'm afraid that even if you do settle early your IVA will still show on your credit rating for six years from the date of acceptance which might impact upon any application for employment which requires a credit check.