I have a Iva with total sums of £7766 including te Iva cost (I’m not sure what there called) I’m in my first year but when I took the Iva out I wasn’t earning a lot as a apprentice so I really struggled, now I’m earning more there taking £76 a week (which ads up to around £15000 after 4 years) if I Pay the full amount before the 5 years is up does the Iva end, I really need help with this as I’m really confused
kaine449 wrote:Thank you for the reply, so that means if the full on amount is payed including fees and interest within the 5 years by paying monthly it will end? If so that’s a great relief of my shoulders
That is correct. Have a read through your proposal and see if it mentions excluding statutory interest --- in mine the interest element was specifically excluded.
Lisa Thomas wrote:£7,766 with 5 years statutory interest at 8% per annum and costs (estimated at say 15%) will be close to c£13k but will really depend on the costs incurred.
I did speak to my Iva provider today and thy explained all this to me, I think I get it now hahah but thank you for the reply
Who is onlineUsers browsing this forum: No registered users and 72 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location