can i pay off an IVA?

6 posts Page 1 of 1
Post Reply
 
 

bluelucy

User avatar
Posts: 2
Joined: Thu Jun 07, 2007 8:50 pm
Location:
Post by bluelucy » Thu Jun 07, 2007 8:54 pm
Quote
can i pay off an IVA? my family are giving me some money to pay it off, i only have 1 year left to go. would i need to negotiate a "settlement" figure or will i have to pay everything outstanding?
Top
 
 

alan1951

User avatar
Posts: 31
Joined: Thu May 10, 2007 4:18 pm
Location:
Post by alan1951 » Thu Jun 07, 2007 9:31 pm
Quote
hello bluelucy

welcome to the forum!! I'm sure an expert will be along to answer your post soon.

As someone just about to embark on the long road of an IVA, I was wondering if you can let me know how it's been for you for the last 4 years, how you've coped living on a strict budget etc.

Alan
Top
 
 

MelanieGiles

User avatar
Industry Expert
Posts: 47612
Joined: Tue Jan 09, 2007 10:42 am
Location:
Post by MelanieGiles » Thu Jun 07, 2007 9:55 pm
Quote
Hi bluelucy

As you are in the final year of your IVA, I would suggest that you will need to pay the full value of the outstanding contributions in full to see an early closure, but do check with your own IP.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk
Regards, Melanie Giles, Insolvency Practitioner
Top
 
 

bluelucy

User avatar
Posts: 2
Joined: Thu Jun 07, 2007 8:50 pm
Location:
Post by bluelucy » Fri Jun 08, 2007 11:38 am
Quote
Hi Alan

The IVA was the only solution for me at the time, it wasn't easy, but knowing i didn't have the dreaded "red letters" and harrasment from my creditors made it a lot easier to cope with. I would suggest if you have to go into an IVA, then do it!

Good luck![:)]
Top
 
 

iva experts

User avatar
Posts: 1271
Joined: Thu Apr 20, 2006 5:31 pm
Location:
Post by iva experts » Fri Jun 08, 2007 11:52 am
Quote
Welcome to the Forum Bluelucy,

I agree with Melanie on this one, I think the best action is to contact your I.P and check with them what figure they think would be acceptable.

Please remember to post your progress.

Best Regards. IVA Experts
Best Regards,
Michelle Pontes
IVA Experts
http://www.iva-experts.co.uk/
Top
 
 

Oliver

User avatar
Posts: 1854
Joined: Sun Sep 11, 2005 12:15 pm
Location:
Post by Oliver » Fri Jun 08, 2007 11:56 am
Quote
Contact your IP but I agree with Mel that you would be looking for a similar amount equating to your remaining contributions.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp
Best Regards
Oliver
Top
Post Reply
6 posts Page 1 of 1
Return to “IVA postbag for june”