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Kate.07
- Posts: 6
- Joined: Tue Jun 29, 2010 10:36 pm
I've only got 12 months left on my IVA (woohoo!), and it now transpires that I am earning alot more than when I started my IVA, and my repayments have gone up in proportion. This will also mean that I'll not only payback more than anticpated, I will also payback more than the entire amount of debt stipulated when the IVA was first started, prior to the offical end in June of next year. What happens in these circumstances? Do I continue paying til June of next regardless if the original amount of debt has been exceeded, or will I get to finish early?! Much appreicated!
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Kate.07
- Posts: 6
- Joined: Tue Jun 29, 2010 10:36 pm
Hi Helen,
Thanks for the info!
The original Debt was GBP 44k then another GBP 10k in fees (although the fees might be slightly less than that). So far, well as at my last 6 month review in December I had repaid GBP 42k, 46p in the pound dividend. Currently paying GBP 1k a month so should finish a little earlier than 12 months I guess, yes it is over 5 years....and I am finally starting to see light at the end of the tunnel!!! And just to think that in a couple of days time, it'll be less than a year its just awesome!!![:D]
Kate x
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Kate.07
- Posts: 6
- Joined: Tue Jun 29, 2010 10:36 pm
Freeman Jones. Overall they have done a good job, although they tended to send me the incorrect paperwork at my reviews which has been a bit annoying, but gets resolved pretty quickly. Just waiting for my next review forms now as I get one every six months. From what I have read today on the forum, most people seem to get them annually??
If the IVA finishes early, would the same amount of fees be applicable or maybe they would be pro-rated? Here's me wishful thinking to make that end come even quicker!
Been a long road, and quite depressing at times, but definitely worth it in the long run.
Kate x
