question category: IVA

Can my husband raise a loan to pay off my IVA settlement figure?
Submitted on: 11th Mar 2010 by Non-Member | Total Answers: 1

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Re: Can my husband raise a loan to pay off my IVA settlement ...

Potentially yes, but you need to think of the long term repayment position on this.

You would no longer be paying towards your IVA but a new monthly payment would be required towards the loan and this includes the interest charged on the borrowing. The debts included in your IVA have already had the interest and charges stopped.

I would advise you to check first of all with your Supervisor about any costs and implications of an early settlement.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you're considering entering into an IVA, Debt Advice Foundation provides a free, confidential helpline and can advise you on whether you qualify. Click here to find out more.

Submitted on: 17th Aug 2010 by Justine Member

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