www.iva.co.uk

hello.I have recently undergone surgery for colon cancer and have been left having to wear a permanent colostomy pouch. This has left me in a limited capability category regarding the nature of my work and hence my earning capacity is now diminished. I am in an IVA owing £23,000 to the end term.What would be a realistic full and final my creditors might consider. I am unlikely to return to full employment due to my condition
Thankyou Oliver aged 53

Hi Oliver and welcome to the forum. So sorry to hear about your recent illness.

What do you feel you could afford to offer, and how long have you been in your IVA? Would you be relying on third party funds, or realising assets which were initially excluded from the IVA? My gut feeling is to offer what you have paid into date in full and final settlement, but this would depend on your actual circumstances at the time of making the offer.

Which IP firm are you with?

Hi Oliver.js - welcome to the forum

Sorry to read about your recent treatment and hope you are recovering well even though it has left you with a permanent condition to live with. With regards to a F&F offer, You need to look at what is possible based on funds available from third parties as without anything offer, the creditors would not be getting anything from you, or much less due to diminished income. If you would still have some income then look at what your new DI would be and multiply that by the number of months left. It is a difficult one as creditors may accept payments to date depending on what £23000 compares to the amount of debt already repaid and this should be something you explore due to your condition. Have a chat with your IP to discuss what you can put forward without having to overcommit any third parties unnecessarily.

Let us know how you get on.