www.iva.co.uk

Hi all,

This is my first post on the forum and may i start by saying what a great help all the advice i have read over the past couple of weeks has been. My query is this, i am in the application stage of my IVA my debts total £26000 and my monthly payment is to be £234. As a homeowner i may end up making 72 payments as i dont believe there will be any equity in my property this making a total of £16848. Now then because of the nature of my work i will recieve regular but not gauranteed overtime which i think will enable me to pay 72 payments of around £400 per month totaling £28800.
Q1 Would my IVA end early if i continued to pay £400 per month ?
Q2 Once i had paid back the initally agreed £16848 which would take around 42 monthly payments what sort of full and final offer would be acceptable ?

Hi and welcome to the forum. Glad we have been of assistance to you.

Your IVA will only conclude early if you manage to pay back 100p in the pound plus fees and possible statutory interest.

Not sure about a full and final once you reach your agreed dividend. Something for one of the experts to take up.

Hi and welcome to the forum from myself too, might be worth running this by your IP at this early stage. I hope your IVA when accepted runs smoothly for you x

The dividend is no real measure or marker of success, it is merely an estimated returm at the date the IVA is proposed. If you can afford to make increased payments during the IVA this is a bonus for creditors, who will expect you to pay those until the end of the IVA. As Jan has already said, the IVA may only conclude if 100p in the £ is achieved in the meantime.