I pay approx 500 a month and have 2 years left (12k) (3 years if extended due to unable to remortgage (18K)) ..
Wife pregnant and stops working full time from march meaning I am unable to continue paying the IVA.
we have About 20k equity in house (10K of which is mine and 10K wifes)
Family member has offered me 10k as full and final offer to conclude IVA..
Does anyone think this will be accepted or will they make me go bankrupt.. given the fees involved in selling the property and fact I will have 2 young kids to look after do you think creditors will agree with payments to date and 10k ???
It sounds perfectly reasonable and hopefully creditors accept the variation and you can be closed by March. I certainly think it is a good and fair offer.
