Paying more into my iva?

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Post by thomas779 » Sun Jan 26, 2020 11:57 am
If im now on Iva allready 2,5 year. That mean for example when im own 10000 im on the half way repayment . Now my income go up , do I have to pay more every week ? If I pay more its mean I pay a lot more then im own begginin of my IVA


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Post by kallis3 » Sun Jan 26, 2020 12:02 pm
Bear in mind you will always pay the full amount of your debt, not just your IVA amount. You need to speak to your IVA company to see if they need to do another review. You need to factor in fees as well.
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.


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Post by Foggy » Sun Jan 26, 2020 12:15 pm
IF you manage to pay the full original debt, plus fees and possible statutory interest, the IVA will end early. Even this is probably much lower than if you had carried on repaying the debt with the contractual interest.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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