I am nearly 3 years into an IVA. Its all going ok and I have not really had any problems. At the end of the 5 year period all my debt will not have been paid off. I am of the understanding that the outstanding amount will be written off as I live in rented accommodation so I do not have a property to re-mortgage. Am I correct? It worries me that there may be some penalty to pay that I am not aware of. I am just looking to ease my mind really. Any advice would be greatly appreciated.