My son who is 18 is working now albeit temporarily at the moment to help towards his university fees next year. If he was to help us out and lens us the money, would that be acceptable or not?
As long as you can provide proof of where the money is coming from, and that it is available for a full and final only then there should be no problem.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
September time next year. Do we have to wait util we get the refusal of a remortgage before we can make a f & f offer? We ar supposed to try and remortgage nearly £28000 but I don't think that is possible.
My son hopes to go to uni next september and I would love to be able to make a f & f offer around the same time.
Cookie68 did they say when you should attempt to remortgage or be able to offer a f & f? It gives me a little hope that they have told you this.
My arrangement was extended by six months so is due to end in June 2012 so I think I am right in saying that if I was successful with re-mortgage the figure regarding equity would be worked out and once paid into the IVA it would finish.
You have to attempt to re-mortgage only if you have enough equity in the property to satisfy the creditors and complete the IVA.
Assuming you have, if re-mortgage fails I think then is the time to make the offer.
Are you in your 4th year? this seems to be the time that most arrangement specify re-mortgage
Our IVA is due to finish Feb 2013 but we have extended for 2 months. We are due to try and remortgage in month 54. We have equity in the property so were expecting to extend for 12 months as I think it will be impossible to remortgage.
Are you in the same position as us? When are you trying to remortgage? Are you going to try and make a f & f settlement at the same time?
I am due to re-mortgage now. Will submit valuation with mortgage redemption figure and let IP do calculations. Had house valued today so I know I will have the equity required but probably won't get re-mortgage.
My debt was 22K and by December will have made 16.5K worth of payments so I am hoping that F&F will be realistic.
