www.iva.co.uk

Hi

I've been in IVA for past 6 months.

My debts were originally just under £80,000 and were reduced to approx £45,000 in the IVA. I am making payments of £760 per month

I was wondering, if for example someone gave me a lump sum to clear the £45,000, would the IVA be over or would I be required to continue making payments to clear the full £80,000?

Thanks

4 down 56 to go!!

Hi
If you have no equity clause in your IVA then you could well offer enough to return the proposed dividends[38k,remaining payments less approx 3k in saved IP fees].You must state that the loan from the third party will only be made if it is used to conclude your IVA and all your disposible income will be used to repay them.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Thanks for your help Andy.

6 down 54 to go!!