looking at changing circumstances

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kah

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Post by kah » Mon Jun 23, 2008 1:36 pm
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My elderly parents are in need of a lot of care and I would like to be able to supply this. They have offered to lend me the money to make a F and F. I am in year 3 of my IVA and it's unlikely that I will have any equity in my property by year 4. To assist my parents I will need to reduce my working hours so I would need F and F to succeed to achieve this. By the end of year 3 I will have payment totalling about £20000 left to make. My parent sare offering a loan of £15000. Do you think thee is any chance of this offer succeeding?
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MelanieGiles

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Post by MelanieGiles » Mon Jun 23, 2008 1:41 pm
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It seems like a sensible solution if you are going to be able to get close to the dividend you originally pledged to creditors. Ask your IP to work out a settlement figure for you.
Regards, Melanie Giles, Insolvency Practitioner
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