I have 15 months left on my IVA - with the last 12 being year 6 (equity clause)
Payments are £315 so have £4,725.
A relative could offer £3,800k plus I envisage 2 months payments totalling £630 while a meeting is being convened. So they would get pretty much the whole figure.
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
It does sound a viable option but be prepared to explain why you want to end iva early - if you are showing no signs of affording your monthly payment or no change if circumstances then your creditors may ask for full amount.
Good luck and let us know how it goes
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Yes sounds like a good offer but I would rather put a clause in stating that only 2 contributions would be paid - any further contributions paid will be deducted from the lump sum (as it might take your IP more than 2 months to sort).