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IVA Settlement Advice
kateyboo85
Posts: 1
Newbie
in IVA & DRO
Hi,
I have a friend that has an IVA which is 3 and 1/2 years old paying £300 a month. At the rate he is paying there is just over 5k left to pay.
There is a possibility that he could be made redundant in the near future and receive a pay off of more than the 5k. Would he just pay the remaining amount on the IVA or would the company he is with be enititled to more?
He says he has asked them previously what would happen if he came into money and he says the company want the amount he pays each month x the amount of months left
e.g. £300 x 18months = £5400
Is this correct? Thank you in advance for any advice!
I have a friend that has an IVA which is 3 and 1/2 years old paying £300 a month. At the rate he is paying there is just over 5k left to pay.
There is a possibility that he could be made redundant in the near future and receive a pay off of more than the 5k. Would he just pay the remaining amount on the IVA or would the company he is with be enititled to more?
He says he has asked them previously what would happen if he came into money and he says the company want the amount he pays each month x the amount of months left
e.g. £300 x 18months = £5400
Is this correct? Thank you in advance for any advice!
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