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IVA settlement
jos_4
Posts: 66 Forumite
Currently in the second year of an IVA with Debt free direct, i was wondering if anyone had settled an IVA early and what sort of settlement did the creditors accept? Would love to be rid of this as soon as possible. Any advice welcome. Thanks.
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Comments
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they would only accept a settlement which woudl give them the same p in the £ as the IVA going to the end.0
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Addicted2Chocolate wrote:they would only accept a settlement which woudl give them the same p in the £ as the IVA going to the end.
Do you know this from your own experience of completing an IVA? Is there anybody out their who has settled their IVA with Debt Free Direct early?0 -
not from my own experience just common sense. when the creditors consider the IVA they are promised a return of so many pence in the pund. they know you are legally bound to comply with the terms of the IVA, otherwise the supervisor will declare you bankrupt. so why would they accept an early settklement? maybe they woudl save the admin costs of colelcting the repayments but i dont think they would go for it. just my opinion though.0
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