Hi everyone, after a bit of advise folks, as you may have seen I posted recently about my IVA coming to an end which was originally this month the last 72 months has been hard and tough but feel I have got there in the end..
But in the second year of my IVA I took a 3 month break due to struggling so making my IVA finish in December instead of September of this year
Can I pay pay the last 3 payments early so I finish this month as originally planned?.
My parents have offered to pay it so I can be free and get my life back on track but not sure if you can pay it off early with only a few months to completion?.
By the time you have sorted this with your IP then the three months will be up anyway so I, personally, would just continue on until the end.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As these are technically arrears I see no reason why you shouldn't be able to make a lump sum payment. I don't think a variation needs to be called and they can then get started on the formalities a few months early. Best to discuss it with your IP though.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Cheers everyone probably best to leave it then just figured it was technically meant to finish this month so I would just be paying the extension back so it finished on time.
Last time I called it cost nearly £15 on the phone due to be being on hold etc 0844 numbers are a killer so it's an expense I could do with out so I will just let it run I think.
I agree with foggy ... they are arrears so a variation unlikely to be needed. In theory you could pay this now and have the closure process done and dusted by xmas ... no harm in suggesting it to your IP
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Hiya. We have just (last week) paid our IVA off and we had about 5/6months to go before it was due to end. Like u our family offered to pay it off for us. We got told on the phone that we didn't have to have a variation meeting as we had less to 6months to go and we were able to just make a payment using a bank card.Hope this helps.
We have small arrears that we will be paying off at the end of October. We had been paying these off monthly until this year as our final years the payments were increased so we opted to have an extra lump sum added to the end rather than struggle each month ... and I can't quite believe it that the end is in touching distance!
getting there ....
Got there!!
IVA started 27/10/2010
final payment 27/10/2015
CC received 6/5/16
Off the register 5/8/16
Sorry got a bit carried away there and forgot to add .... So I can't see any reason why you couldn't pay the arrears off now, as we could have paid it at any point over the course of the IVA
Last edited by Helen.k on Mon Sep 07, 2015 9:30 am, edited 1 time in total.
getting there ....
Got there!!
IVA started 27/10/2010
final payment 27/10/2015
CC received 6/5/16
Off the register 5/8/16
You could send them the cheque from your parents with a written letter regarding the position. This will save you hanging around on the phone and you won't lose anything in the meantime. I can't believe it takes so long to speak to someone on the phone about your case!
Hello everyone
Thanks for your advice I will speak to DFD and try and sort it out if they will take a debit card payment over the phone I am sure my Dad will do that and I could complete this month as originally planned.
Thanks everyone I will let you know the outcome
Hi quick update
Just spoke with Vicky at DFD who really helped me and said my IVA is due to finish so by the time they had sorted everything out about paying the last few months off there would be no point so just finish the last few months as normal and that is it.
Wahooo soooo close now.
