We have a few questions and would like some info from people who have been there or experienced it whether it was accepted or failed !
After many discussions with my husband and a family member, we are debating whether to offer a full and final to complete out IVA early.
We have worked out that our payments left into the IVA over next 36 months is £20,167 apx. Our IVA runs for 72 months, no equity and we are almost 36 months in.
If a family member offered to pay £15,000 to pay this off early, is this likely to be accepted ? I know it is impossible to say, but wondered if anyone had any joy offering £5k less than what was due to be paid?
Also, if a F&F was not accepted would the IVA automatically fail or can you just carry on making your payments ?
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
In my years on the forum, I do not think there is any set answer. Some offers that sound really good as they return expected payments are rejected and others that sound far off are accepted.
It is close but creditors do normally look favourable on full and final offers. If they reject you offer offer more or the IVA reverts to the original term.
