Hi have 1 year to go on IVA and it will be extended because of equity. Have an offer of a full and final of 2 years of payments. What paperwork is required to get this offer made? Is it a letter from the giving party confirming it as a one off offer? Also do myself and my husband have to sign anything? Many thanks
You need to tell your IP company about the offer and send a letter in explaining that the money is available for a full and final only and will be withdrawn in the event it is declined.
The lending party also needs to demonstrate where this money is coming from (money laundering purposes) and your IP company will send you out a proposal which you need to sign and return and then a meeting date can be set up.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As Kallis says send a letter regarding the offer and evidence that funds are coming from third parties (usually copy bank statement will suffice). Also might like to suggest that any normal contributions made by you which the variation is being called etc will be deducted from the lump sum, depending on the figures etc.
