Will my IVA be terminated months earlier due to enhanced payments ?

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Chrisd1865
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by Chrisd1865 » Sun Dec 24, 2017 3:44 pm
Good afternoon. I'm in my final year of my 6 year iva and looks like I might pay more into than forecasted due to annual bonuses paid each year, Will my iva continue to the final payment date in August or be terminated months earlier due to this ?
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kallis3
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by kallis3 » Sun Dec 24, 2017 3:50 pm
If you can pay 100p in the pound plus fees and possible statutory interest it will - otherwise it will carry on until the end.
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Foggy
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by Foggy » Sun Dec 24, 2017 4:11 pm
As Kallis says -- the contractual payments will not be reduced by extra payments unless you reach 100% of the original debt plus fees and possible stautory interest. Until then the extra money means the creditors get more of their debt repaid.
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