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iva payment period

i am 16 months into an iva, at the time it seemed to be our best solution. as a student my non taxable bursary is taken into account and my husbands fluctuating self employed income, this often raises our payments but they do not decrease when income drops. i am to qualify as a nurse in 12 months and my income will more than double, will the iva company take all of my earnings ? if yes will the iva finish earlier than the predicted 5 year period if paid off early ? i would be most grateful if you could help with my questions, lisa.

Hello Lisajgreen

In regards to your question about the company taking all of your income into account when it doubles, the IVA company should review your circumstances with you when this happens. Your payments will vary on what you can comfortably afford. For more accurate answers, speak to the company you are dealing with. They will be able to go into more detail with you about the IVA you are in, and about weather or not the IVA will finish early if you can afford to pay more. If you feel that you cannot afford to pay the current payment to your IVA, again speak to your IVA company. Hope this helps





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