POSSIBLE SETTLEMENT?

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rayb

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Post by rayb » Mon Mar 31, 2008 9:24 am
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Morning all,

Some advice please. I am in an IVA about a year and a half through originally paying £18K over 5 years at £300.00 a month on a total debt of 37K. (now paying £368.00) I have so far paid 12 x £300.00, 1 X £330.00 and 5 x £368.00 totalling £5770.00 to the end of March.

I am looking at moving out with my partner and to be honest I will not be able to afford my repayments anymore (have checked) so bankruptcy may be the only option. (I am aware that I will probably have to pay an IPO)

My question is my Parents are looking at giving me some money to possibly clear the IVA, the amount in question £5500.00. Do you think this is likely to be accepted?

Thanks

Ray
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MelanieGiles

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Post by MelanieGiles » Mon Mar 31, 2008 9:36 am
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It is a bit low, but there is no harm in asking your IP if they are prepared to recommend the offer to your creditors.
Regards, Melanie Giles, Insolvency Practitioner
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rayb

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Post by rayb » Mon Mar 31, 2008 9:52 am
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Thanks Melanie. This probably would not be for a few months so can pay some more off and possibly may be able to get a bit more from the parents.

No harm in asking
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