My partner is hopefully getting a profit related bonus in May. My Iva is due to finish end of June. I have the equity release in my terms and conditions. He is offering me 4k for a full and final. Will he be allowed to do this? What do you think the chances are of it being accepted. Currently paying 322 per month. Thank you.
It will depend on whether you have any equity to release or the de minimis clause applies. Have you had a valuation?
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
You probably stand a good chance - just depends on the company you are with and helpful they have been in the past.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
They may want proof that the money is available - just ensure that the money stays in their account until it has been agreed.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Yes, a solvent partner can offer the money as their money is their own ( I would caveat that by saying that some firms take total household income into consideration when arriving at a repayment and I am unsure as to how those firms would treat a partners bonus). The offer should be written in terms that if not accepted the IVA continues as before.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks Foggy. He will only offer this to conclude the Iva. I was with PJG and still under their terms. I Just want it done now. The uncertainty is making me ill
