www.iva.co.uk

If I want to get out of my IVA do I have to pay full amount or can I negogiate a percent ?

Hi Sue,

If you are looking at offering a full and final amount then it should be as close to your original dividend as possible and you will need to say where the money is coming from.

Is there any particular reason why you are looking to finish early?

Hi Sue. What you offer will be dicatated by the reasons for offering it and the length of time you have been in your IVA. It all boils down to economics for the creditors.

Some will consider a percentage on the basis that most of the jam now is better than dry toast for five years. Then there are the reasons, if you simply want out they will hold out for as much as they can get. If you are ill, in danger of losing your income or some calamity beyond your control that could cause the IVA to fail, they might take a lesser amount as better than gambling on losing the lot ( bird in the hand and all that).

The best person to give useful advice will be your IP, as he / she knows your creditors and has experience of how they are likely to react to given scenarios.

Speak with your IP initially and give the reason you want to conclude your IVA early, I'm sure they'll advise and hopefully you'll get to conclude earlier. x