www.iva.co.uk

Good Evening,

I am wondering if anyone can help, I am currently going through an iva which i started in August 2006, the problem is i started it with my ex partner as it's a joint one, we are now seperated but still pay our % into freeman jones every month.
Since i started i have recieved a pay rise and it means i have to increase my payments to over £200 a month, how does this stand because the more i pay in does this mean the debt will be clear before 5 years.

Many Thanks

Jamie

Hey Jamie, welcome to the forum. The only way your IVA will finish early is if you repay the original debt plus fees and interest. If you want to post a few more details regarding your debt then the experts can help. X

If you can afford to pay higher payments, then your creditors will get a higher dividend ultimately which has to be a good thing all round. As Viki has already stated, you will only be able to end the IVA earlier if you manage to pay the debts and costs in full.

Surely your expenses have gone up in that time also,so you may be able to offset some of your pay rise against cost of living increases.