Hello everyone,
My partner and I have a Joint IVA, it is a 6 year one, we are currently 30 months into it. We have paid about £12,400 including some money from over time. We have about £12,300 left to pay. My parents have offered to loan us some money for F&F payment.
What would a good offer be?
I would base any offer on the amount of payments you still have to make at the current contractual level. So £12,300 would seem a good starting place. How much can your parents actually afford to lend you?
Thank you for your response.
My parents have said that they could manage £5000 to £6500.
(Also from the £12,300 half of that goes to the IP company fees)
Well the IP is entitled to be paid for the work that they carry out, although I woudl be suprised if they were allowed to retain half of the future payments. What is the basis of their remuneration in your particular case.
If you can afford to carry on paying payments at the current contractual level, I don't see creditors accepting the figures you say are affordable - but seek advice on this point directly from your own IP as they may have differing views to mine.
