Page 1 of 1
Posted: Thu Sep 27, 2007 9:03 pm
by james.c
Hope some one can help
My parents have mentioned they are considering helping with me IVA.
They are thinking of giving me 20k as gift, if it will be accepted as a final settlment, but if this does not happen they wont give me the money.
The facts are -
1 -When i took out the IVA i had 28k of debts.
2 - been paying in to it since feb 2007
3 - Monthly payment is £349.00 a year
4 - i dont own a house i rent.
5 - it does say in my iva agreement not to offer a final settlement till after 2 years
Any advice?
no matter how bad money gets, theirs stll alot more important things in life
Posted: Thu Sep 27, 2007 9:05 pm
by MelanieGiles
Hi James
Am sure that we have discussed this on earlier posts, but it does look like a good offer. Have you discussed figures with your IP yet, and do you own a property where you have to release equity during the final year?
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Thu Sep 27, 2007 9:11 pm
by james.c
no i have no property so their is no equity release.
What about the bit in the IVA stating i can not offer a settlemet till after 2 years?
no matter how bad money gets, theirs stll alot more important things in life
Posted: Thu Sep 27, 2007 9:12 pm
by MelanieGiles
If I were your IP I would put forward a variation on the basis that the offer is good, your circumstances have changed, and that the variation seeks to vary the modification regarding no modifications!!!
Silly old world sometimes isn't it - but what a ridiculous modification!
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Posted: Thu Sep 27, 2007 9:14 pm
by james.c
as always melaine thank you for your advice
no matter how bad money gets, theirs stll alot more important things in life
Posted: Thu Sep 27, 2007 9:27 pm
by Adam Davies
Hi
Go for it James because that is a good offer and your creditors would be nuts to not accept.
Good luck
Andy Davie
IVA.co.uk Spokesperson
About me:
http://www.iva.co.uk/andy_davie_profile.asp
IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp
Posted: Fri Sep 28, 2007 10:31 am
by Skippy
Good luck with your proposal James.
Yesterday is history, tomorrow is a mystery, today is the present - a gift to make the most of.
View my blog at
http://skippy13.blogs.iva.co.uk/
Posted: Fri Sep 28, 2007 3:45 pm
by johnpaul
good luck keep us all informed james
JOHNPAUL