will my offer be accepted ?

[paul.b]

I have left 14000 left on my iva with three years left. I am coming into 6000 and would ike to offer this to settle. Will they accept this?

[Martin2011]

Sorry Paul, don't know the answer, but certain someone who does will be along shortly. Just wanted to say that I hope the answer is yes, and wish you the very best of luck wither way.

Martin

[Adam Davies]

Paul
Unfortunately inheritance will fall under the windfall clause and will have to be paid into your IVA ontop of your ongoing normal payments.
What dividend are you returning in your IVA ?

Just to add a note that there is a general misconception that ones debt decreases once an IVA is agreed.Infact you owe the whole of your ORIGINAL debt,less dividends paid,right up until the IVA is concluded.It is only then that the difference is written off.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[emma_t]

Andy thats a great point and I think one that is often forgotton that you owe the full amount until the conclusion of a succesful iva and then the rest is 'written off'.

I will owe £46k for the next 5 years and when I complete my iva succesfully (note the positivity!!) then the rest will be written off and this is how I look at things.

[Martin2011]

True enough, although what you owe reduces every month...and isn't that a lovely feeling....it really does go down, never used to, at best it stayed the same because it was effectively borrowed back, at a price, and at worst it just increased despite payments..... but now, it goes down every month..... When I think how much interest I paid to some of those companies over the years, I think that to have some of the debt written off might just level to score a little, although it's looking like we'll be able to repay 100% by the end anyway....barring disasters of course..... Feel good about that possibility and so looking forward to making that last payment!

Martin

Martin