I am just entering the final year of my IVA, however my wife is expecting our first baby in August and I have just received a redundancy notice for July. Obviously we don't want the IVA to fail at this late stage so was wondering what would be the best thing to do? If we continue to pay the normal payment for April/May and June and offer my redundancy of £2000 as a final offer in July would this be an attractive proposition for the creditors to agree to? It wouldmean we have repaid nearly £36k and the agreement was to repay £40,300. Any advice would be appreciated.
Hi vanquish01
It sounds a very good offer but you should speak to your IP and explain the situation and they can then get the ball rolling so when your redundancy has come there will be the minimum delay in doing the F&F
Keith
The long and winding road will straighten out eventually....keep the faith
Thank you for your replies, I apologise for the duplicate post but read that I had to register first before posting etc. I will have a chat with my IP in the next week. Thank you again
An excellent offer that would have no problem in being accepted by your creditors - chase your IP accordingly and get him to put this offer forward asap. Good luck.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
