Hi all. My IVA has just four months remaining at £287 per month, I have maintained the payments without fail throughout. My query is, my sister has offered to give me the money pay off the remaining four months payments (£1148) Is it possible to do this? How would it benefit me? and what is the common procedure for both parties? (me and the IVA company) Thanks in advance. Anthony.
Hi I had this same question a few weeks ago and they said that it could take that long (4 months) to get it all sorted for a full and final. My stepdada kindly offered me the money as mine is (hopefully) finishing in dec 2010 but they said it probaly wouldnt work. But I'm sure the experts will be along shortly to advise you further. Well done for getting this far though. Soon to be debt free woo x
Hi Anthony, I would probably just go with the monthly payments for the last 4 months....do you have equity clause or will your IVA conclude after 4 months? x
Welcome to the forum.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I would carry on as well. You are so close and it would take a few months to sort out anyway.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I agree with the others - unless you physically cannot afford the repayments four months is nothing compared to where you have come from - light is at the end of the tunnel and just think you will be debt free and credit record cleared in less than a year ! Well done !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Thankyou so much for all your replies, I guess seeing the finnishing post is making me hungry. Its been a long road. One more question, once my final payment is made, what happens then and how soon does what ever happens, happen, is there loads of papers to sign etc, also my last payment is in October but they have normally done their review in September each year, will they bother doing a review for one more payment? I have no assets and I live in a rented house.
I guess they'll do the last review Anthony as others have had a review close to the finish date. You will receive a certificate of completion which is the ultimate goal of all posters I think.
You'll soon be debt free and you can then work on rebuilding your credit file although the IVA won't drop off until 6 years after acceptance date.
Well done for getting this far and you're nearly there, enjoy your debt free future. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
