Living with parents - Early settlement?

[Stewie]

Do you think i should reply to my supervisors office by email first with this:

"Is it possible to put forward a variation to the creditors where by my parents would offer a sum to settle the IVA, and that the loan from my parents will only be made if it is to be used to settle my IVA and that my disposable income will be used to repay my parents each month?"

[MelanieGiles]

That's a great starting point Stewie - fire it off straight away and see what you get back.

[Soulgrowth]

Hi Stewie

"Is it possible to put forward a variation to the creditors where by my parents would offer a sum to settle the IVA, and that the loan from my parents will only be made if it is to be used to settle my IVA and that my disposable income will be used to repay my parents each month?"

I would word it:

"I would like to put forward a variation to the creditors where by my parents would offer a sum to settle the IVA, and that the loan from my parents will only be made if it is to be used to settle my IVA and that my disposable income will be used to repay my parents each month? I would be grateful for your observations"

Debbie

[Stewie]

Hi, thanks for your help, i had already sent the reply though worded as my last post above... and this is the reply i received:

"I have mentioned this to your supervisor and we have reviewed the situation, and he is of the same feeling as outlined below. There seems to be little reason to accrue further costs when there is little or no prospect of approval.

Furthermore, I would like to mention that I work with your supervisors authority, and he is very aware of your settlement enquiry."

[MelanieGiles]

Sorry - I don't agree with your supervisor - it is your right to offer a settlement to creditors, and creditors right to receive the offer and consider whether to accept it. Insist that you speak to the IP directly (which firm are you actually with) and have him/her explain to you why they refuse to put the offer forward, as this could give grounds for a complaint to their regulatory body. You might like to mention that when you next correspond with them.

[Stewie]

Hi Mel, i called the office and spoke with the woman replying by email and she just repeated what was stated in the email and then went on to say that too many people are settling their IVA's early and just took the IVA out in the first place to manipulate the system (thats not word for word) and settle it early. I explained that if my parents could of helped me back then they would of. And also that alot of people have been made redundant at my work place and settling the IVA would help me big time, she just replied to say if i get made redundant then they can consider the variation... end of!

[MelanieGiles]

The opinion she expresses is one that the creditors ought to exercise and not her. Which firm are you using?

This may give grounds for a complaint to the IP's regulatory body if you cannot get to speak to the IP directly to hear his/her reasons for not putting forward the offer.

[Stewie]

Thanks, but i'm not the type of person who usually kicks up a fuss. I dont really want to be threatening them. Plus my IVA balance is apprx 17k and i know that my parents can only offer around the 14k mark, so all in all the offer probably wouldnt be accepted and i would of just incurred fees for no reason. The company is Grosevenor Partners.

[MelanieGiles]

I know the IP at Grosvenor Partners very well and would be happy to have a chat with him if you like. You will need to e-mail me your details if you would like me to help.

[Stewie]

Thanks, that would be great. I'm just very skeptical about going "behind their back" to seek advise, would you contacting them on my behalf affect me in anyway? would that make you a third party in all this? Could i have your email address?

[MelanieGiles]

You can e-mail me at my website above - and you have to decide whether my intervention is something you are prepared to allow, as I cannot tackle this without your authority. The IP at Grosvenor Parters is well known to me, and I would like to understand their position in this matter - but ultimately it is up to you.

[Stewie]

Thank you. i've emailed you.

[Stewie]

Hi Melanie, ive sent you an email, thanks