question about early settlement.

greenbrucelee

I am having to do PPI claims whilst in my IVA with payplan and creedo claims.

If my PPI claims got to a point where it would mean I paid more than the 37% that was set out on my IVA would I be able to ask for an early settlement?

UpToMyNeckInIt

...No, your IVA will continue as normal, and you will just feel better that you have repaid your creditors a little more than the agreed original minimum dividend.

Remember: you are still liable for your debt, 100p in the £, regardless of your originally agreed minimum. Your IVA firm will therefore want any realised assets/windfalls etc. to be paid in, up to that amount + fees etc.

Any outstanding debt is only 'written off' once you get to the end of your 5-6 Year IVA.

However, you might be able to apply for a F&F if you have had a financial turn for the worse, and can no longer afford your IVA.

greenbrucelee

Well that sucks.

Oh well thanks for your reply.