Background _ Had 12k debt. IVA approved at 60xpayments of £110.77. t Total repayable of about £7.200.
Currently paid off £996 after nearly 8 months.
Conundrum: My wage is about to increase significantly. Probably be able to pay 400 a month. This would mean I will payback what is owed of the original 11k before end of the IVA.
However, I may be able to get a payment of about 6k off a family member. Which would write off the amount that the IVA repayments were agreed for.
Can anyone explain the best thing to do here?
Pay off the outstanding 6k and expect the IVA to end early before announcing a pay rise.
Or hang on until the oayrise happens and then just increase the payments and stay in for the long hall.
On the face of it a full and final ( do not call it a settlement) might be better.
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