If I pay off my friend's IVA, will I have problems?

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tomasz998
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by tomasz998 » Sun Feb 18, 2018 4:48 am
Hi
My friend wants from me to pay off his IVA earlier. He is asking me to pay because will be cheaper then he will pay his balance off-my question is can I have any problem after when I clear his balance-will I be In IVA system
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kallis3
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by kallis3 » Sun Feb 18, 2018 8:26 am
Hi,

No, you won't have any problems. Make sure his IVA company know any ,money is purely for this purpose and will be withdrawn if not accepted.
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Foggy
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by Foggy » Sun Feb 18, 2018 9:42 am
Hi Tomasz. Your friends IP will need to check the funds and will ask for bank statements and, possibly, proof of ID from you. This does not mean that you are in th IVA system and there will be no connection between you and your friend's IVA.
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Lisa Thomas
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by Lisa Thomas » Mon Feb 19, 2018 10:05 am
Take a little care as legally you won't be able to pursue him for repayment as you will have to confirm the lump sum is a 'gift' so if you fall out you might not be able to get your money back...
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