I've been offered some money from my parents to make a final offer and hopefully pay off my IVA. I have 13 months left. Is this possible?. And I assume its against the amount that was agreed when the IVA started and not against to total amount.
What is the normal amount that needs to be offered say for example my month payment is £200 and 12 months left 200 *12 = 2400 so if I offered £2500 as a Full & Final Payment will this be accepted
Im with GT anyone else had a F&F with GT and being accepted/Declined
The best calculation is as you describe monthly payment x months left.
You would need to put the offer to your IP in writing explaining why you wish to seek a f&f and where the money is coming from, making it very clear that should the f&f not be accepted then the money would NOT be available to you.
The process could take 3-4 months if not longer and I would personally consider whether it is worth it as you are into your last year - could your parents help in other ways maybe?
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
GT no longer post I am afraid. As luluj says, by the time it goes through it might not save much in the time stakes. But the offer is a good one, assuming you have no equity to be looked at.
If you go ahead now might be a good time as they can tie it in with the final review to save duplicating work.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014