My wife and myself have struggled on for nearly 6 yrs, we would like to relocate, renting out our current house and renting elsewhere for the foreseable future, if we were able to borrow sufficient funds from a relative ( 4 x £500 ) would this be accepted to bring our IVA to an end
Hi Rockhound - I see no reason why this would not be possible as long as the original terms in your IVA proposal were being met and the offer was the same or as near to what it would have been had you gone full term.
Let us know how you get on and good luck with your move.
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I don't think it is worth making that offer if you only have 4 payments left to make. Probably better to let the IVA run its course, bur ask your IP to close it as soon as they can.
I think at this late stage it will have very little impact on your closure. It will take them just as long to close down your case, as it may mean increased work which they may not be prepared to do for the sake of 4 months.... ask them first if there will be any real advantage to you by making this offer.
Well done on reaching the end, 4 more payments is nothing really, a F&F meeting can take 3 months or so to put together so there really is no point at this stage now, the IVA won't come off your file any quicker, it will still be on there until the 6 yr anniversary, once that's off you should be able to repair your credit file (look at removing any defaults that are on there that shouldn't be) and will need your CC and your IP will then remove your name from the Insolvency register then you'll not have any issue with failing a credit check for renting I would have thought.
Ring your company and ask them however as someone else said it takes time to set up a variation meeting so you may find that you'll be finished paying it all off by the time of the meeting. 4 months is not long to go [:)]
