Terminating my IVA

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sud

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Post by sud » Mon Apr 12, 2021 9:54 am
Hi There,
i want to terminate my IVA early.

kallis3

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Post by kallis3 » Mon Apr 12, 2021 10:23 am
Can you explain further? Do you want to make a full and final offer or are you just looking to fail it.
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

sud

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Post by sud » Mon Apr 19, 2021 2:55 pm
I just want to make extra payments to the debtors by myself. I spoke to the IVA team and they agree to terminate my contract with them and inform me that the IVA will be terminated soon.do I need to worry about anything?my debt around £2900

kallis3

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Post by kallis3 » Mon Apr 19, 2021 3:16 pm
Your credit record will be shot for 6 years regardless of the fact that you finished early. You can contact your creditors after that and try to make arrangments with them but bear in mind they may add on interest and charges which will make your debt larger.
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

Foggy

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Post by Foggy » Mon Apr 19, 2021 3:52 pm
That £2.9k remaining --- is that the remaining payments on the IVA or your actual debt ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

kallis3

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Post by kallis3 » Mon Apr 19, 2021 4:00 pm
Good point - hadn't thought of that.
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

sud

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Post by sud » Mon Apr 19, 2021 5:18 pm
2900 is my current debt

kallis3

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Post by kallis3 » Mon Apr 19, 2021 7:24 pm
How long have you been in your Iva?
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

WallE

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Post by WallE » Mon Apr 19, 2021 8:22 pm
Who was your IP? I'm amazed an IVA was approved for that little (comparitively, I know it's a big deal to you) debt owed. The fees are likely more than the debt!
Hi! I used to work for one of the UK's biggest Insolvency Practitioners - I don't work for an IP anymore but still have an extensive knowledge of the IVA industry. How can I help?
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