Offer in yr 6

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OxfordJim

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Joined: Thu Nov 16, 2017 5:34 pm
Post by OxfordJim » Thu Nov 16, 2017 5:52 pm
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Hi,

A friend has been through 5 years of their IVA, just had a review of their equity in a property, refused a re-mortgage, etc - so will have 12 more monthly payments. My friend is a little distressed because it drags on and on. The amount over the next 12/13 months is probably just over 5k.
Please correct me if I'm wrong but from what I understand the payments and amount can't change and the IVA can't be extended again. If so, I'm happy to loan and pay off the remaining amount in order for my friend to get their life back as I'm not half as scary as the current option.
Is it practical and painless in this situation to offer the remaining amount? It just seems that the cards are still loaded against anyone with an IVA so I wouldn't want to make anything worse.

James
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Foggy

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Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom
Post by Foggy » Thu Nov 16, 2017 6:01 pm
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Hi --- that would be a generous offer, but you would have to move fairly swiftly as these things take a few months ( up to 6 with Payplan) to put into place. The IVA shouldn't be extended again and a Full and Final, if accepted, will see the end of it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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