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Are there options open to you to settle the monies owed in a shorter period than 5 years?.

If so, how can you exercise these?

How will this alos affect your amount that you have to settle?

Hi Keith

You would need to find someone prepared to offer you a lump sum to pay off the IVA, or realise an excluded asset, or simply pay in higher contributions.

You would exercise these by firstly discussing your intentions with your own IP and working out a settlement figure. A variation meeting of your creditors would then be called, to see if they would be prepared to accept your revised offer.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Hello Keith,

You can settle earlier than the 5 year period through a lump sum amount, either through re-mortgaging or a family/friend offering to pay your IVA off (using the disposable income to pay them back).

I would contact your I.P to discuss what would be a good offer to put forward to the creditors as a Full & Final Settlement and if it is possible to do so.

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

Hi
You could also increase the amount that you pay into your IVA,both voluntary and involuntary,and once you have repaid your full original debts plus IP fees your IVA would conclude
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp