You will need an IP to give you a definite answer to that question. whether your IP would need to talk to the person providing the funds I am not sure.
The key thing is that your IP will need to understand where the funds are coming from so that they are happy that they are truly from a third party rather than a windfall that you have received. They will also need to be convinced that the funds do actually exist and will be made available as has been suggested. As such, it is normal for the IP to want to know who the funder is. How would this cause you an issue?
The third party loan is from my father, from his savings, he is unaware of my IVA and believes the loan is to pay off a credit card. I would rather he thought this than let him know about the IVA. Also I am slightly wary that naming him would then tie him to my debts and would effect his credit score ,ect?
no chance of that Kris effecting his credit score,my sister funded my offer and had to supply a letter to confirm the offer,she also recieved confirmation from my IP that the offer had been accepted.
Naming him would certainly not tie him in any way to your debts or effect his credit rating Kris. However, having said that I understand the reason for you not wanting to tell him that you are in an IVA. Speak you your IP and see what they say. Ultimately it will be their decision as to how much proof or otherwise of the money being made avilable they will need before they can suggest the settlement to your creditors.
You could always tell him that it's new rules for the company and they need to know where the money is coming from.
Might not work but just a thought if you're not comfortable with telling him.
I couldn't tell my parents.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Thanks for all the advice, RHB gave the best, and I have spoken to my father and told the truth were the money is going, that he needs to provide a letter and proof of the money in UK account. He was ok with the whole thing, even saying he was happy that I was trying to sort out the problem myself. my only question now is in the wording of the letters, I have heard different advice as to say whether the money from the third party is a loan or a gift??? Any advice as to the wording of these letters to the IP??
Thanks again
