Advisor tells me earlier advice was wrong

[Rachel.1]

to be honest its a number of things,the doctor has now put me on anti depressants and the iva is not helping at all,but i just dont no what would happen if we split....would we still be able to continue with the iva??we only have 9 payments left.can you pay off a iva early and if so ow do they work the amount out?

[Shining]

Hi Rachel, as Melanie says your marriage is important and hopefully you can both work to making this work. You're so close to the end of the IVA now I wonder if it would be worth offering a Full and final settlement or to plod on with the payments and hopefully it will conclude successfully.

The amount offered to conclude early will be as near to the original dividend as possible but again this is case specific and talking to your IP is most important. I hope you can work things out, I truly do, the forum is here for support and advice if you need it Rachel.

[MelanieGiles]

Definately get your IP to ask creditors if they will accept what you have paid in to date in full and final settlement. With a good reason behind it, you have every chance that this would be accepted by creditors.

[Rachel.1]

the fee for the end of the iva is £8400.if we offered that now 9 months shy of ending the iva would they accept it?

[liamjames]

I'm sure they would Rachel - make sure your IP tells them about your situation.

Best of luck, and please keep us updated.

[Rachel.1]

i really hope so,it would actually make my xmas.:)ill let you all know.

[Rachel.1]

just waiting for my ip to phone me back and let me know what he thinks,,,what are the chances of the creditors saying yes??

[liamjames]

I would!

Has your IP phoned you back yet?

[Rachel.1]

still waiting,,,what about if there are any arrears on the account??

[MelanieGiles]

That will all be taken into consideration when they put forward your offer Rachel. I am sure that the arrears are there for good reason, and so long as your IP fairly represents your position to creditors you should get you offer accepted.

[Rachel.1]

our ip phoned back last night and told us to send all paperwork asap from us and my husbands mum stating the money is a gift ect and he thinks they will accept it as final payment...so happy just hope all goes well would be a brilliant start to 2011.....how long will it take though?

[liamjames]

Hi Rachel,

Your IP should be able to give you an accurate timescale. Once the paperwork has been drafted and signed he will need to give creditors around a month to vote on the variation, so unfortunately it won't be an instant process.

Best of luck!

[Rachel.1]

i was hoping it would be done by xmas:(,,,im not sure now as we still owe quite a lot but there again we finish in july anyway so they may accept anyway....the f&f is 8400

[Rachel.1]

if we carried on paying until july then paid the fee the creditors wuld be getting an extra £2000than if they accept now...mmmm maybe they will say yes in december.

[MRBLUESKY]

good luck rachel fingers crossed.