www.iva.co.uk

if you offer a full and final payment in the form of a loan from a third party, does that third party have to be named?

Hi kris101 as far as I am aware they would not need to be name in detail however you would need to disclose that the funds are coming from a family member or friend.

Hope this helps.

Thank you for the reply, the funds are coming in the form of a loan from my father, but I would rather him not be named, he is unaware that I am in an IVA and believes the amount is to pay off a a credit card, I would rather keep him separate from the whole thing. I am happy to tell my IP that the amount is from a family member, but would not really like to give any more detials.

I think if you just tell your IP that it is from your father that will be fine. He shouldn't be contacted so you don't need to worry about him finding out by telling your IP.
I know that we just put in your proposals that you have funds coming from your father and thats it.

Thats great news! Thanks for your help

Hi Kris,

Sorry for the conflicting advice but my IVA is actually with Payplan and I had to provide a letter from my Father confirming he was willing to lend the money and also proof of where he was getting the money from.

Not sure if this is different in each case though.

We require proof of the funds, that can be from a letter from your father to say that he is willing to give you the loan, or it can be a bank statement to show the funds in your account.

Hi Kris

My IVA was also an F&F, and the funds were from a friend. My IP required a signed letter from my friend to confirm the funds were available.

Hi - good luck with your offer xx

We had to provide signed letters from my mum an sister to confirm they were offering f&f ....

im with payplan and when my wife proposed a f@f funded by my son to finnish her iva a letter stating this from my son was required.
it went fine