I'd say your chances are low. Creditors do not like being in an IVA either, because life happens and it's risky, but the amount you're offering is almost half of what they will receive if they let the IVA go to term. Maybe you can pay the £6k off the balance and be in an IVA for less time, but it's ...

Thanks very much! I don't suppose you'll know the answer to (hopefully) my final question... Now that the F&F settlement is approved, and the direct debit is set up to pay sprout instead of my IVA company, is any bonus or overtime money mine from now ? I'm unsure on if I'm still bound by the terms o...

Well, I actually complained to those that rejected the initial offer. It didn't sit right with me that the offer was just as good as continuing the IVA until the end of its term, but they still said no. One of my creditors had the smallest claim of them all at about £200, so I spoke to them all, rea...

I put the offer from Sprout Loans to my creditors late december and they rejected the offer, but following another variation meeting i've obtained 100% approval from all creditors! I'm so happy that the finish line is in sight. The question is, what now? Those that have completed their IVA, how long...

I've appealed to my creditors via Creditfix, but I'm not holding my breath. Unfortunately, it seems as if a few of my creditors are represented by Watch Portfolio, and they represent enough of my creditors that I've no chance of a majority decision in my favour. I get the argument that the point of ...

I recently explored a Sprout loan as a means to exit my IVA early. The offer made was £2550, and the amount that the creditors would receive if I continued with the IVA would be £2967. Since the offer was made, I've paid 2 more payments of £129, meaning the creditors would get a total of £2808 with ...

Hi Clare, I'm currently going through the process myself of using a Sprout Loan as a final settlement. From what i've learned along the way, here are the key points - Sprout will call you to make sure that you're fully aware of the loan, the lack of security in comparison to an IVA and they'll do an...

I think I've put forward a compelling case. I've told them about my struggles with mental health and stated the benefit for both parties of ending it 2 years early from my perspective. I've also told my IP that there's a possibility that my family and I may be leaving the UK. It's a very slight poss...

I think the figures you put forward are favourable and, with any other IVA provider, I would say had an excellent chance. CF might well push for the full amount, as they often do, but it is your offer to make, not theirs. Best of luck with it. The variation meeting has already been arranged for 26/...

Hello, I've recently explored the prospect of getting a Sprout loan to free me from my IVA 2 years earlier than scheduled. (I'm with Creditfix) Sprout loans offer 80% of the money the IVA company would receive if I was to continue with my normal payments. I currently pay £129 a month, so if I was to...

Hello, I had two debts with Creation Consumer Finance for a Loan and a Credit Plan for Furniture, and both were being handled as part of my IVA. Today I received two letters welcoming me to Lantern Debt Recovery for these debts, but I'm confused. Why would a Debt Recovery Company buy a debt that the...

Hello, I had two debts with Creation Consumer Finance for a Loan and a Credit Plan for Furniture, and both were being handled as part of my IVA. Today I received two letters welcoming me to Lantern Debt Recovery for these debts, but I'm confused. Why would a Debt Recovery Company buy a debt that the...

Coming up for 3 years on my IVA, 2 left, providing they don't extend it. Really struggling with anxiety about a review that I need to complete. I'm fortunate enough that I've secured myself a decent job with decent pay, but I'm petrified that they're going to increase my payments from £125 a month t...

I’ll see what they say. I’m hoping they’ll take into consideration my mental well-being though I’m not hopeful, and I hope the prospect of finishing this thing early is attractive for them.

To be continued…will update as the story unfolds

Would it be acceptable to make up the difference? I have a very small amount of savings to tide me over, but it’s large enough to turn it from a partial settlement into a full one.

On the other hand I suppose they could just as easily say that half of that is rightfully theirs anyway…