I have 16 months left on my IVA. I pay 385 into it each month, leaving me £6160 left to pay. I currently live at home wit my father, however he is in the process of selling his house to move to the coast. I will therefore need to find somewhere to live myself. Obviously my monthly outgoings will increase considerably but my income will not. My father has offered to give me £3500 to finish my IVA early but he can't offer anymore and I can't "get my hands on anymore". DO you think this amount is likely to be accepted to settle early or is it too low? My report states that creditors are to receive 51p/£ - Not entirely sure what that means but thought I'd mention it incase it's relevant! Thanks for your help.
I think it sounds like a good offer to me considering that your circumstances are about to change.
Hopefully one of the experts will be on later to advise further.
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
as Helen said you need to make them aware that this money is only there for the FF, with this in mind they may accept. Unfortunately it is a case of only your IP can answer this because of the Individual nature of the IVA.
Hope its accepted and you can look to debt free living in your own place.
