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Posted: Thu Aug 18, 2011 9:39 pm
by Raffles66
can i pay an iva off early
Posted: Thu Aug 18, 2011 9:53 pm
by ginger3232
Raffles66 - only if you pay back all of the whole debt and fees
However there are some circumstances where the IVA can close early - life style changes, F+F settlement.
Can i ask is there a reason for this question ?
Posted: Thu Aug 18, 2011 9:53 pm
by kazzafunk
Hi raffles - welcome to the forum. You can pay off an IVA early. Your credit rating will still be affected for the 6 years however from the time the IVA was approved.
What is the reason you want to finish it early?
Posted: Thu Aug 18, 2011 10:03 pm
by Lisa2009
You could offer a lump sum as a full and final but offer as near to the original promised dividend as possible. Of course it will depend on circumstances and where the money would be coming from but lots of forum members have completed IVAs early.
Posted: Thu Aug 18, 2011 10:04 pm
by kallis3
Hi,
Agree with ginger - you normally need extenuating circumstances such as redundancy or illness to do a full and final.
Where would the figure be coming from?