Would it be possible for a cousin to pay a F&F for me due to my bad health ?

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Beryl.01

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Post by Beryl.01 » Tue May 24, 2016 2:30 am
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I have just begun an IVA for £7600. A cousin of mine was concerned when he found out, due to my ill health, that it would not be good for me. He has offered to pay a full and final settlement for me, but only for the IVA. Is this a possibility at some point in the IVA?
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MrsR

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Post by MrsR » Tue May 24, 2016 3:28 am
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Hi there,

You can offer a full and final at any point.

To calculate the offer amount it's the monthly amount you pay x months remaining, including the 12 months on top in lieu of equity.
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!!
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Lisa Thomas

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Post by Lisa Thomas » Tue May 24, 2016 12:41 pm
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Yes and consider the point Mrs R makes but only if the equitable interest applies to you and is over the minimum sum (usually £5k).

Is the £7,600 the amount you were due to repay or the amount of debt?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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