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Extra payments towards IVA?

millie84 Posts: 96 Forumite

11 May 2018 at 11:53PM in Bankruptcy & living with it

Hi.
A few months ago I finally got my IVA sorted, which was a great relief.
I've just this month had a pay rise, which I do need to tell them about.

My partner keeps suggesting I get into matched betting to earn some extra money. He seems to think I can put it into my IVA and pay it off quicker. But I'm pretty sure it doesn't work like that. I've just done a bit of Googling and it looks like the only way to pay it off earlier is a lump sum for the entire amount. I owe £11k so I doubt I'll win that much!
Matched betting is something I want to try to make some extra money, but I think it would be better for me to save any money I win.
Does anyone have any experience of matched betting whilst in an IVA?
I do already have a small pot of savings (which the practitioner is aware of) I can use as collaterall, although in the long run I won't be reducing the amount at all.

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Extra payments towards IVA?

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