IVA help/ Question?

bigg1982

Hi there

Wondered if there is anyone out there that could help me answer a question before I ring my IVA supervisors.

I am nearly 4 years into my IVA. I was due to pay them a total of 13680, I have totaled my payments so far to them and as of my 4 year anniversary i would have paid 13721 as I have been sticking to paying them 50% over my allowance each month.

Does anyone know if I could potentially ask if they would accept a full and final payment as depending on how much my parents would be willing to help just to get me out of it?

Thanks

greenbrucelee

As far as I am aware when the say you have to pay x amount this is the minimum that has been decided you will pay but you can't stop paying when you reach that figure you have to pay for the full 5 years and if you end up paying everything back then you end up paying everything back.

This is why you have to pay in Overtime when i goes past the 10% limit.

I am actually on course for paying back more than what was said I would pay.

You could ask your IP what a settlement figure would be if possible.