Likelihood of acceptance?

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Post by Ivamumma » Sun Aug 14, 2022 2:06 pm
I’m 19 payments into a 72 month iva with PayPlanPlus (extended by a year because of my maternity leave break in payments). I’ve paid on around 6500 so far and payments have just gone down to £228 a month following an annual review and variation meeting. Due to the increasing stress on me and my partner it is looking likely I will become a single parent 1 income household with substantial childcare to pay. My parents are offering 10,000 as a full and final payment. Is this likely to be accepted given the circumstances? If not, it is likely my iva would fail as I can’t afford to pay it plus childcare for 2 kids and run the house alone. I have no assets and private rent and the increasing cost of living is already having a huge impact.


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Post by Breezy » Sun Aug 14, 2022 2:58 pm
You are due to pay a further £12k over the term, with all the doubts around the IVA continuing --- I would think that £10k now would be considered a good offer ---- saving the creditors over 4 years of messing around with dividend payouts and the admin costs involved.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.
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