paying one of my loans off sooner?

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umran

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Post by umran » Wed Jul 28, 2010 10:02 pm
if i go into a IVA, and i am later in a position to pay one of the loans off sooner, can i?
 
 

kallis3

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Post by kallis3 » Wed Jul 28, 2010 10:06 pm
Hi Umran,

Once you enter into an IVA then you cannot pay off any of your creditors yourself. A dividend will be set and your payments will be geared to that.

If you get any extra money during the term then this will go towards all of your creditors, not just one.
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
 
 

plasticdaft

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Post by plasticdaft » Wed Jul 28, 2010 10:19 pm
Is there a particular reason you would want to pay off a certain loan??

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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