www.iva.co.uk

I am in month 51 of my IVA with the definite possibilty of a further extension due to equity. I pay £433 per month with a dividend of 43p payable so assuming I have 21 months left to pay I will owe £9093 based on my monthly payments. However I am going to have to reduce my hours at work significantly as my mum is quite ill, she can't walk or balance when stood up due to a major problem with her ears which is permanent and she uses a disabilty scooter, she is also now registered blind. My dad aong with carers has cared for her for the last 7 years, however his health is now failing so as the only child I am considering taking up the responsibility of looking after them both but keeping working part time. My mum knows my situation and has offered me £5k as a f&f offer so that I could afford to go part time. Has anybody any idea whether this is too low as my mum can't afford any more, is it worth my while putting it to creditors? In any case my mum comes first and I will go part time anyway in which case I couldn't keep up my monthly payments. Advice appreciated and thanks.

Hi. I feel it is an arguement certainly worth putting to the creditors in light of the circumstances. Creditors are not ogres and, provided your IP backs your corner, I am sure they will consider the offer.

Thanks for replying Foggy, how do I go about this I'm with GT also how long does it take and what happens if they refuse?

I would think the offer is more than generous and creditors are normally sympathetic in such circumstances. Your parents come first and I am sure creditors would feel the same.

Thanks Michael, I'm so worried about my parents right now, all I want to do is look after them

I am sure GT can get this moving quickly so give them a shout. It is relatively easy to call the variation but anything back up you have to show GT will be a great help to them.

We are heading towards the same situation - family comes first.

I was with GT when my family situation took a turn for the worse. I must say that they were very helpful, supportive and proactive and got me through a variation in a few weeks.

Our iva was originally approved because I became too ill to work, one wage just could not pay the bills.

Last year we wrote a letter to the creditors stating my illness was progressing and we wanted to leave the country for sunnier climes. Back up your situation with evidence, the more the better. The creditors will look at the best financial gain to them. A full and final is a safer bet for them than you not being able to pay at all. Good luck to you and your family. Andrea.

Oh, and it was accepted, (full and final payment) we received our completion certificate this morning!!!