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Paying off my IVA
Posted: Sun Nov 08, 2020 8:39 pm
by lauren1104
I want to pay off my IVA before I move in with my partner, I’ve got about 5k left to pay off. Will they need to check his bank statements etc or do they just ask for a letter? I’ve got about 28 months left and my partner has offered me the 5k to pay this off, however the money will be coming from his mum to his bank as a gift to him to help towards a house.
Re: <t>Paying off my IVA</t>
Posted: Sun Nov 08, 2020 9:08 pm
by Foggy
They will need to check his ID and confirm the source of the funds for money laundering purposes.
Re: <t>Paying off my IVA</t>
Posted: Mon Nov 09, 2020 1:57 am
by luluj
If you are joining forces in setting up home, ensure you don't enter any joint financial agreements whilst your iva is still active as your partner could find his own credit rating is impacted by it.
Please also remember that even if you pay your iva off early, your record will continue to show your iva for six years from the date it started.