A 'What if...' Q. about completing IVA early

[Totalgav]

Hi all

Can anyone tell me what would happen if I were to pay in extra money (from commission and bonus i get, so pid in on the 50% clause) and lets say by year 3 or 4 i had paid in the amount that was agreed over the 5 year period?

I have just worked out how much i have paid in over the 18 months i've been in the IVA and its nearly half of my contributons so far!

Really i think what i am asking is could/would it be agreed that i have reached the amount so i could finish my IVA early or would i have to continue for the 5 years and just pay in extra?

Thanks

Gavin[:)]

[Viki.W]

Hey Gavin, how are you? not sure but thought that if you have paid the oridinal amount plus fees plus interest then it is paid but I know that's not what you're really asking so wait for an expert eh. Viki X

[MelanieGiles]

Hi Gavin

Your IVA will only end early if you pay all of the creditors in full and the costs of the arrangement - not the amount you originally pledged to pay by way of contributions.

[Totalgav]

Thanks Melanie I thought that would be the case to be honest but thought i needed to ask!