www.iva.co.uk

I am now half way through my IVA. Hooray! But unfortunately I just feel flat, struggling and depressed. Once I reach the end of year 3 (not long to go) I'm wondering if F & F offer would be the way to go because I just don't think I can cope with 2 more years particularly with cost o living increases running ahead of reviews etc. There is an equity release clause in my IVA - but no arrangement to extend the IVA if there is no equity (I'll be retiring at the end of year 5 too). I'm fairly certain I won't have any equity because of the property market and because the house is falling down around me as I can't afford any repairs.At the end of year 3 I will still owe another 20,000 to my IVA - is there any point offering F & F of around 10k which is all I think I can borrow for this purpose from a friend?

It would do no harm to make an offer,especially if they stand to gain nothing equity wise. That doesnt mean it would be accepted but if you dont ask you wont get.
With regards to cost of living have you looked at asking your ip to review your payments to allow extra in you expenditure???

I doubt whether £10k will be sufficient to make a sensible offer to creditors if you still have payments equating to £20k to make - unless you are struggling to make your payments.