www.iva.co.uk

i took out an iva 2 years and 4 months ago and for the 1st year i was paying £357.00 monthly, due to a change in circumstances at home and then work my income deceased and a new agreement was arranged and my iva payments are now £157.00 monthly. i originally owed a total of £24,000.00 and now two years later i have paid nearly £7,000.00 and continue to pay without any missed payments.

i plan to migrate and would like to offer to pay a settlement as my mother has offered me £3,000 lump sum to help me. Do you think this is a reasonable offer taking into consideration what i have already paid? Are you allowed to migrate and carry on with your IVA? i have had my iva now for over two years and when i renewed my agreement they extended my payments for in atotal 6 years. nightmare how can i get out i feel trapped!!!!!!!!

Hi there and welcome to the forum

You are allowed to emigrate and continue to make your IVA payments, but as £157 is relatively low, it may be better to settle early and make a complete fresh start abroad. Your offer appears to be reasonable - perhaps slightly low, but it would be better to get your own IP's opinion as they have to convince your creditors that this is the right thing to do.