We have been advised that come August we could look at introducing 3rd party funds, and offer up a F&F to creditors to close the IVA - due in part to my OH being made redundant.
The money is available, but the 3rd party knows nothing about our IVA.
Would our IP need to make the 3rd party aware for the IP to accept the funds?
Due to money laundering requirements they need to know where the funds are coming from plus confirmation that the funds are available.
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.
If they can't be told the truth or something close to it I wouldn't use anything from them.
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.
It is very likely that they would find out. They have to confirm the source of the money, probably provide bank statements and really need to confirm that this money is to be used solely for the purposes of closing the IVA and, if the offer is refused, will be retained and no longer be available to the creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
