Can you end an Iva early?

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eddie712
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by eddie712 » Sat Feb 09, 2019 3:45 pm
Can you end an Iva early with a settlement offer I am just entering my 3rd year paying £290 a month so got 35 payments left
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kallis3
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by kallis3 » Sat Feb 09, 2019 3:53 pm
If you have money to do so (3rd party funds) you can do a full and final offer.
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Foggy
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by Foggy » Sat Feb 09, 2019 4:54 pm
eddie712 wrote:
Can you end an Iva early with a settlement offer I am just entering my 3rd year paying £290 a month so got 35 payments left


Yes you can, if the creditors agree. Be careful of the terminology you use: A settlement is to pay the full outstanding debt, plus fees and possible statutory interest, which could work out expensive. A full and final offer is to offer to pay outstanding payments in a lump sum, and can often be rounded down a little.

In your case the full and final should be based on a figure of 35 x 290 = 3150
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Lisa Thomas
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by Lisa Thomas » Mon Feb 11, 2019 11:41 am
Yes you can.

See my short video here for more information:

https://youtu.be/h4dozq9aGak
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