Advice needed

[Shining]

Charlotte as soon as you've repaid fully the amount owing to creditors, IP fees etc., the IVA will stop. If you're able like some of our posters to be in the fortunate positon of paying off your debt 100% then that is excellent. x

[Charlotte]

Hi Lesley
Can you make over payments to clear it sooner? I'm really sick of it now and just want it gone.. It seemed like the right thing to do at the time, if only we had hindsight as i'm in a much better position financially now.. ITS ALL MY FAULT..!!

[Shining]

Hindsight is indeed a wonderful thing. Your IVA payments should be based on your disposable income and that is ascertained from your I&E. Financially despite being in an IVA I'm in a better position having allowances for everything.

As to paying extra in this will increase the dividend to the creditors but until 100% of all monies owing are paid then you will always owe the original amount until the IVA concludes.

Some people do offer a full and final offer but the IVA remains on your credit file for 6 years from meeting date. F&F are usually put forward for a variety of reasons. If you're in a five year IVA then you're getting there and hopefully the remainder will run smooth.

Do talk to your IP if you feel you need to they are there to help us as well as working with our creditors.

[MelanieGiles]

I'd be happy to chat through any concerns with you Abbiesmum.

And to Charlotte - the provisions that your IP is now insisting that your comply with are an integral part of your IVA, which I assume were fully discussed with you at the time you entered into the IVA. If you are able to pay back your debts in full earlier than the set time the IVA is designed to run for, then that has to be an achievement to be proud of - and the sooner the better!