www.iva.co.uk

If our salaries continue to increase we may well find ourselves in the position of paying back 100 p in the £. If that is the case, do we keep any extra money each month, or do we make overpayments to finish the IVA earlier?

If we cannot raise a minimum of £10,000 equity in our house in year 4, we have a clause which states we have to pay back for a sixth year. What would happen to these payments?

Could all be wishful thinking of course!

Blue

If your wage increases mean that you are able to pay back 100p/£ plus stat interest (8%) and fees to date then your IVA should end there.

It will be fantastic if you can eventually pay your creditors back in full, and of course the IVA will conclude when this happens. I guess the sooner it happens the better at the end of the day.