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Can my Mam pay my Iva off with a loan?
Posted: Wed Dec 14, 2016 7:20 pm
by Jamie247
Can my Mam pay my Iva off with a full final offer with a credit card?
Re: Can my Mam pay my Iva off with a loan?
Posted: Wed Dec 14, 2016 7:23 pm
by Foggy
She can, but I would question the wisdom, long term. Your IVA payments come with no accruing interest charges -- the credit card debt has a very high interest rate. Your mam would also be taking on a debt which would probably take longer than your IVA term to repay --- what if she were to run into financial difficulties in the next few years ?