I want to settle at 100 pence in the pound return

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anthony
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by anthony » Thu Sep 14, 2017 1:53 pm
I am now on my final year of my IVA.
My circumstances are very different to what they were when I took it out.
My payments for the last 8 months are going up to around 700 pounds which I feel comfortable with.
Out of personal pride if possible by the end of the IVA I want to settle at 100 pence in the pound return, is this recognized by your creditors or are they not bothered either way.
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Lisa Thomas
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by Lisa Thomas » Thu Sep 14, 2017 2:04 pm
Creditors will of course be pleased to receive as much of the debt back as possible.
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Lisa Thomas
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by Lisa Thomas » Thu Sep 14, 2017 2:05 pm
Lisa Thomas wrote:
Creditors will of course be pleased to receive as much of the debt back as possible.


Don't forget that costs will come off what you have been paying in...
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kallis3
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by kallis3 » Thu Sep 14, 2017 2:09 pm
If you can pay in full then creditors will love it!
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Foggy
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by Foggy » Thu Sep 14, 2017 3:00 pm
The creditors will love it, but it will make no material difference to you --- it will not alter the way they will view you for future credit, nor affect your credit standing. Some of the debts might have been sold on, though, so the creditor will not be getting it anyway.
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anthony
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by anthony » Thu Sep 14, 2017 4:49 pm
Thanks, thats what i really want to know. I understand creditors will be happy but its not recorded anywhere or recognized what you pay back against the dept.
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kallis3
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by kallis3 » Thu Sep 14, 2017 4:54 pm
It doesn't matter - your debts will be completed and after 6 years they will be clear from your credit record.
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Lisa Thomas
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by Lisa Thomas » Tue Sep 19, 2017 2:06 pm
The final report will state the p/£ that has been repaid to creditors.
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