I can only echo what has been said above:
If it was me things I would consider:
1. The money is only available as a F&F IVA settlement in the event creditors agree to accept it by sufficient majority.
2. The amount offered will reduce for each month the person in the IVA makes each monthly payment (these things can take time).
3. Nothing is paid over until them until the creditors outcome has been agreed and written proof of this is received.
4. You might want to stipulate a term is also that the completion certificate be issued within X months also from the payment being sent to the firm/supervisors.
5. The document they send the person your helping May say something along the lines of "if the offer is rejected they reserve the right to enter into bankruptcy etc etc" insist this clause is removed.
6. Do double check the person you are helping g is on the insolvency register (just to make sure they're not in a DMP or similar and mistakenly think they are in an IVA).
https://www.insolvencydirect.bis.gov.uk/eiir/
7. Don't over cook your full and final offer, you generally want it to be about the reming term of IVA in monthly payments less a percentage (maybe 10-15%) - again this is gleaned from discussions in here, if you want share the rough debt value, monthly payments and term to run (and if any house equity in name of party you are helping). Also there may be a clause in the IVA that dates if they meet a certain p in the £ it ends so you only want to match that.
8. Also be sure they are not in an interlocking IVA, if they are you would need to settling both parties liabilities.
Some companies might insist you send them the money and then they will make the offer, in my opinion this is not acceptable, what if you sent the money and then the company went bust before closing the IVA, that's why I favour as short a time as possible with money leaving your account.
That's all I. An think of, off the top of my head from a summary of F&F offers I have read on here and my own experience.
