www.iva.co.uk

Hi all 5 months into iva paying 170 per month
just been demoted as part of tesco restructure
drop of 200 per month in salary which means wont meet payments
however will recieve 6000 lump sum as regards to demotion do you think creditors will accept this as full and final offer as my total payback over 5 years would be 10500

I think it would be worth the offer .... they would be getting their money early.

I agree in the circumstances. However, they are probably entitled to have the compensation payment anyway, or at least a good chunk of it.

You need to have a word with your IP. It could be that, after the dust has settled, if they do take the payment into the IVA you could close on a payments to date basis.

I think this is a fair offer and while the return will decrease it was not your fault.