By "£18,244 remaining", I take it you mean that this is the total of your remaining payments ? If so, does this include 12 extra months worth for equity? Are you, in fact, a homeowner ? How long have you got left in the IVA ? Reductions in the F&F lump sum offered are common and some firms are more ...

Congratulations ! Have a read here: https://www.iva.co.uk/what-does-an-iva-do-to-your-credit-record which should answer your questions. But, specifically: Will the IVA fall off on its own, or do I need to do something? As long as it was marked completed it should fall off on its own. But sometimes p...

There are different ways of treating a F&F. Usually it is simply a stop on regular IVA payments between paying in the lump sum and the completion certificate being issued. Often there still could be a call on windfalls, inheritances etc. if they happen before completion. To be on the safe side we al...

You always owe the balance of the full original debt. If you hit that and fees then the IVA would finish early.

Yes, sorry -- the increase would be 50% of the net increase in income, so, after tax, NIC etc.

Ask as many questions as you wish -- it is why we are here. Yes .... settling on a F&F with monies donated from your brother would be a great solution. IP and creditors do not need to know if you intend to pay this back after the dust has settled and some do not like to accept offers based on borrow...

Excellent !

Onward and Upward.

Your IVA payment is likely to increase by 50% of the increase in income. So, using your figures, your new IVA payment would be around £650 more ... so £865 a month. I imagine that you will not hit a steady increase for a while after starting, so it might be an idea to deal with the increase, with th...

Tue May 31, 2022 6:59 pmDapplesES wrote:

Do they all have to agree or is it the same criteria as when the IVA was set up?

It will be the same criteria.

That all sounds very reasonable and true! One last concern before I write to Iva.org. When my Iva was set up and the creditors meeting was arranged there was supposed to be 5 creditors voting, however only 2 did (both Santander, current acc and cc) the vote was carried by these 2 but as the others ...

At least amongst the posters here, the majority of F&F offers, based on the anticipated return from agreed regular payments, are accepted. The creditors are getting what they agreed, but are getting it early and in one lump --- and saving on time and administration costs. 'A bird on the hand is wort...

This is why you need confirmation, one way or another, before you can actually proceed. Not selling if they refuse is not a bluff, as, if they insist on having too much you would be unable to purchase a new property, so would not be selling !

It should be around that. What does it say on your Insolvency Register entry ? Does it note that the IVA has completed ? If it still shows as current they either haven't had, or have lost, the notification. I would drop them a message.

I have seen people negotiate a F&F payment of the remaining scheduled payments from the sale of a house. Again these offers have been initially framed as an "if the creditors will accept this sum in full and final payment of the IVA then I will proceed with selling. If not, I will not sell and the I...

I am afraid that their interpretation is probably correct -- The property is excluded, however any cash released from it's sale would not be and it will fall to the sympathies of IP and creditors as to how they would treat the issue. I would be inclined to treat the negotiations as a 'what if' situa...

You say these are 'fines' --- are they court or police issued fines or PCNs (parking penalties) ?

Court or police issued fines cannot be included in an IVA, but parking charges generally can.