Hi I have currently been in an iva for two years paying £270 a month as luck would have it we got some ppl payment so now what I owe is little over £8k my father has offered a £6k settlement however my ip says this is not enough and if they offer this to a creditor they can demand an extra years payments?! Is this so and is there anyone I can go to for advice. Me and husband have been separated for three years and can't divorce and move on with our lives this seems really unfair as the recent they said they won't accept is because we have paid religiously surely it shouldn't matter please help this is stressing me out as my life on hold I have four small children and don't want to have to sell the house 😔
How have you calculated the what you owe figure? Remember that you always owe the full amount of your debt plus fees until the end of an iva,only then is there any debt forgiveness . Whats stopping you divorcing?
Not sure its really up to your ip to stop an offer going to creditors so I'd insist they go ahead with the offer and let the freditors decide if its good enough.
Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
If you have done an up to date income and expenditure account showing your surplus has dropped then the offer is more than reasonable. However if you can still afford £270 per month it is possible creditors would ask for the payments to continue especially if there is a property with equity.
If you need to pay for a divorce this would reduce your surplus income so speak to the IP and do a new I&E as the current surplus is relative when making an offer and not what you had been paying.
