Posted: Fri Feb 15, 2008 7:47 pm
If you are to pay off your iva with an iva loan, are you only responsable for the agreed total with your creditors or the full amount owed before you took out the iva
Hi
Not sure what you mean by an IVA loan but whilst you are in an IVA your full original debts are owed,less dividends paid,right upto the conclusion of your IVA.
If you have entered into an IVA with an agreed dividend to pay and you have a third party willing to lend you the money to enable you to offer this dividend in a full and final settlement then it is possible to conclude your IVA early.If you are a property owner with a final year equity release clause then it becomes more complicated.