The chances at the moment are slim and your Dad should refrain from giving you this money at the moment as the IVA company will probably want to snatch it.
Tell him to put it in a savings account until such time as the IVA is finished or offer it up as a full and final amount to complete the IVA.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I agree with Kallis. You will not get a mortgage while the IVA is on your records ( 6 years from the start) and, even then, you will need the assistance of a broker as some lenders have onerous criteria regarding IVAs.
Don't let your dad give you a large lump sum, as , as Kallis says, this might be due to your creditors. Better to think about a full and final offer to close the IVA down early.
This will not make getting a mortgage any easier, any earlier, but will give you the freedom to save towards a better deposit (and you can use the payments you no longer have to make into the IVA to replace what your dad has paid for the F&F).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
