www.iva.co.uk

Hi people hope you are all well..

I'm thinking of making a settlement offer (funds from a family member).

A bit of history first.. I'm self employed and the wife is employed and we are both in Iva's. We pay 200 per month in total and have made 31 payments (just over half way).

We will have equity too.

When making an f+f offer do we need to take into account the extra year, in lieu of equity? Or just make an offer of 29 x 200 (remaining months)?

Thanks EP

I'm no expert but would think the remaining payments + 12 months in lieu of equity would be a good start (unless you have masses of equity?)

You need to check with your IP in case creditors requested anything other than listed in the original proposal. Dougie is correct but as you are self employed HMRC may have modified the protocol equity release provisions if they voted.

Thanks guys, I'm with McCambridge Duffy Michael. I think HMRC was one of the creditors that didn't vote..

That should be fine then. Give the office a call or drop me an email and we can get the ball rolling.

Hi Michael, I've sent you an email..

Thanks

I got it and passed it to the supervision/variation team. It seems fair to me and hopefully creditors think the same thing. I will keep my fingers crossed for you.

Thank you so much Michael, it really is appreciated!