I have just registered with the forum after spending hours looking through the site.
Firstly can I just say that it is comforting to know that I am not alone.I have gained inspiration from the many members that post on this forum,and the information coming back from the industry professionals is worth its weight in gold.I would like to outline where I am and what I intend doing............ I am currently in a joint IVA with my wife.We have just made it to our 3rd review and have been paying £380 per month.All payments are up to date and no payments have been missed.Our joint liability totals 72k with 12 creditors,all of which have claimed.We have a five year IVA with the usual equity clause,with the further year 6 option to continue paying if equity cannot be realised.Our payments are being reviewed as I have submitted more expenditure on fuel purely travelling to and from my place of work.The I&E sheet has allowed only £100 but the allowance last year was £350.I am seeking to get this amended back to £350 at present.The whole IVA situation has led to both myself and my wife's health to deteriorate.I am currently on blood pressure tablets and my wife is on another medication(mainly due to stress).
I am self employed and my wife is employed.
I do a very labour intensive job and as a result my back is suffering...not severe but a noticeable deterioration.I am afraid that I will not be able to continue my line of work certainly for the remaining duration of the IVA.
So,on to the reason for posting..........
My Mother has had a lump sum pension pay out and is willing to offer a loan with the purpose of a Full and Final settlement.She has offered us 10k but am not sure at this stage if it would be considered enough.I appreciate that I need to discuss this with my IP but would really just like to test the water in order to gain some confidence in getting the process started.
(sending rest of info on separate post)
Your offer seems very fair and if your creditors see the drop in income I am sure they will support the full and final settlement. Give your IP as much information as possible to back up your case and I am sure you will be fine.
