is this s good offer to finalise the IVA?

[leigh.k]

Hi
I am currently paying an IVA and i have two years left. I am paying £310 per month, i can get £4000 from my mum , is this s good offer to finalise the IVA?

[Julie]

Hi Leigh - can you give more details. How much was your IVA originally for, how many payments made etc.

[leigh.k]

i have made 36 payments, i dont have the orignal amount to hand , but i do know that i was paying 39p in the pound

[Julie]

Hi

Hopefully one of the experts will be along soon to answer your question. I think they may need more info though.

[zoe]

Hi Leigh
Can you no longer afford the payments??

[leigh.k]

i can for now, but my circumstances will be changing in Sept and i wont be able to....plus i would like to know if the 4000 is good offer

[zoe]

If you can afford the payments i cannot see that your creditors will accept, but the only sure way to find out is to speak to your IP!!

[leigh.k]

thanks, i have asked them and they said to get a letter sent in and she will take it forward to the creditors

[Soulgrowth]

Good luck Leigh ... your IP should be able to provide you with a settlement figure so you know where you stand.

Debbie

[plasticdaft]

The remaining payments would be 24x £310 returning £7440,so I am not sure that your creditors would accept 4k as a F&F,although if you are saying that come sept you will not be able to afford your payments this may be taken into account,may I ask why/how your circumstances will be changing.

[MelanieGiles]

I don't think that it is a good offer as your creditors would get over £7k if you were to continue with your payments, however if this is going to be a struggle then you may have grounds for getting a lower offer accepted.

[leigh.k]

i am moving out of my mums to a rented property, so i will have more expenditure

[MelanieGiles]

Is your move through necessity rather than choice?

[leigh.k]

it is necessity

[MelanieGiles]

Then you ought to be able to put up a reasonable argument to support the merits of your offer, but this will need to be discussed directly with your IP.