www.iva.co.uk

Good evening. I am 54 months into my IVA my original plan was to pay £194 for 60 months which would have paid over 11.5k into the IVA. I managed to increase my payments and by the 60 month I will have paid almost £22k this includes extra payments and PPI claims. I even kept up the higher payments when my monthly salary was much less than when I had my yearly audit. After the 60 months I will probably be requested to remortgage I cannot see anyone willing to lend as I will be 51 and suffer from diabetes high blood pressure and high cholesterol. As I have paid substantially more than was originally planned can I request my company to ask if my plan can be successfully finished or will I have to accept another year. Thanks Kieran

You will, if you trigger the equity release clauses, have to extend. They will only accept early closure if the amount paid in equals the full original debt, plus fees and possible statutory interest (8% p.a simple).

Hi What was the original total debt?