www.iva.co.uk

Hi All,

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??

Jez

Hi Jez,

It will carry on until you either repay 100p plus fees or the end of the original term of your IVA finishes.

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.

Ok great thanks for your help