Thanks. Would i have to give reasons why i want to finish early other than i am lending the money of parents? Also say if i offered £ 4,000 what is the likelihood of it being accepted with it being £ 2000 less than if i kept paying the 24 remaining monthly payments

I dont really want to speak to them yet as not sure if i can obtain the money off the family member yet. I was just looking for a ballpark figure. There would be no equity involved.

I have been paying into an IVA for 3 years at a rate of £ 257 a month. My total debt was £ 27,000. I am know thinking of asking a family member whether i can lend some money to finish the IVA 2 years earlier. How much does anyone reckon they would accept? ie would it be the remaining 2 years £257 a ...

Hi, If you fail your IVA then some of the money you have paid across will have gone to the creditors, plus some will have gone towards paying IP and supervisors fees. Once it fails, then the creditor will start adding interest and charges again, and you will be back to square one. You always owe th...

Lulu I cannot speak for your own IP, of course, but I have definately arranged longer payment breaks of up to one year for clients of mine faced with similar circumstances to your own. The only thing you can do is liaise with your IP who will be facing similar problems with other clients as well. E...

So what is the answer to POLAND's original question, 'why would GT not do an annual review', I know a 'creditors statement' must be sent out annually but I have never seen anything written down which states that regular I&E reviews have to be carried out. Perhaps the experts could clarify this poin...

So you know it from both sides of the fence![:)] It is much better being in relative control of your debts rather than being bullied on the phone by someone trying to get blood out of a stone! Yes certainly do! Luckily moved into a different role in the company and enjoy it more. What makes me laug...

Very true, but at least you can afford the payments, live within your means and know that you are going to be debt free in five or six years rather than paying it off forever. I don't worry about mine anymore. I don't dread the phone ringing or the postman calling. I do understand what you mean as ...

I don't think you'll find people enjoy being in an IVA, more that they are pleased they no longer have the worries of their debts and that they have been given a second chance. How do you mean worries of their debts! Just because you are not getting endless phone calls you are STILL PAYING DEBT OFF.

I agree with the others - you need to contact them otherwise you could end up with a nasty surprise. Surely being in an IVA is better than paying off neverending debts and being chased by creditors? It is better but some people on here actually seem to enjoy being on IVA's!!! Its a dog eat dog worl...

kallis3 wrote:

They should have done one, but it won't hurt to contact them to find out why they haven't.

Why contact them to give them more money! In my eyes they are worse as bad as the people you originally owed the money too.

Thanks i will let them contact me. Was just wondering why it was. They hopefully might not even contact me again for the full 5 years so i would just then be paying the same amount each month. Only contact in the year was a yearly statement and a letter telling me not to contact the company who was...

Thanks i will let them contact me. Was just wondering why it was. They hopefully might not even contact me again for the full 5 years so i would just then be paying the same amount each month. Only contact in the year was a yearly statement and a letter telling me not to contact the company who was ...

I would give them a ring and mention that you haven't had one. Don't know how it affects the IVA that you haven't had one done, one of the professionals can probably help with that. It seems these companies get paid for doing very little. Also another query i have is if the IVA fails after say 4 ye...

Its Grant Thornton