www.iva.co.uk

I'm currently 5 months into my IVA. IP Supervisor fees nearly around £3,200 and my credit was exceeding £6,500 prior to entering the IVA. I'm currently with EbeneGate but was referred by CreditFix, as my application failed there, was referred to Vanguard but no communication of changes to EbeneGate until I saw the direct debit come out of my account.

I'm now on a higher wage, month 5 into my IVA paying £175 to the IP. Will I pay over the threshold? I also get a bonus this month with a (post tax) amount of £4400 on top of my current wage (£25000 annum income pre-tax).

Do you reckon I'll be able to pay my IVA off early, within 2 years? This is considering no job/salary change.

During an IVA you do not 'owe' just the agreed payments. You still owe the full original debt plus fees. If the increased payment hits that amount, the arrangement will end early. If it does not, it simply means that creditors get repaid a little more.

You can, however, make a full and final offer, which is based on remaining payments, paid in a lump sum.