www.iva.co.uk

My mother is prepared to offer a cash lump to conclude my iva. In the full and final offer, would you offer an amount equivalent to the inital 60 months or would offer an amount equivalent to 72 months. I have only been in the IVA for less than 6 months and it is causing me insomnia .

Hi, this will depend on whether you have equity in your property to release. Creditors will look for 100% dividend payments over the term.

Whetever lump sum is available it is worth speaking to your IP on this.

In the end an IVA is simply a negotiation and whilst creditors are looking to recover as much as possible, they are also keen to resolve debts so a lump sum can be appealing.

Even if the amount your mother was able to offer was not equal to the initial offer, it would still be worth checking with your IP, especially if your health is suffering.

When making your offer ensure it is clearly noted that this money is only available for the purpose of a full and final to end your iva.