www.iva.co.uk

If your iva is going to be extended by 12 mths and you would like to offer a full and final settlement of 12xmthly payment do you have to have a good reason you want to do this?if a relative will lend you the money thanks

It normally is enough to offer the twelve payments from a third party and creditors do not need to give approval. You would normally provide a reason for an early settlement but this payment is in lieu of equity and thus different.

Ask your own IP but that would be our view.

sorry to sound dim but when you say in lieu of equity are the 12 mths suffient or do they need more thankyou as i was told by a customer adviser that everyone would do it but offered is the full 12 mths thankyou

The 12 months is the maximum so if your equity would be less than 12 months payments only offer that amount.

I hope that makes sense?

hi no my equity if i could realise it but cant would be more so dont know what to do thanks

You are basically offering what they would get -- and they are getting it early, so everyone wins.