Hi I have 2 years left on my Iva and I'm paying £500 a month I have recently separated from my wife it was a joint debt but the iva is in my name and now I'm struggling to pay it each month on my own what kind of offer do u think I should make to settle the Iva early
You need to speak to your IP and inform them of this and see if they can help you out with your payments.
Where would you be getting the money from to make a full and final settlement?
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
As Kallis says -- speak with your IP -- a lot will depend upon the whole set of circumstances and whether you can carry on after a new I&E.
My wife left me and our son about half way through our IVA, but, we had been making extra payments and those, with PPI refunds, improved our dividend. The new I&E showed I could no longer continue and the creditors accepted a F&F of payments made to date ( basically calling it quits).
Your circumstances might not make this feasible, but it is still worth exploring.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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 would speak to your IP about your change in circumstances.
This may lead to your contributions being reduced accordingly which will either give you the ability to continue comfortably for the last 2 years or give you a lower figure on which to make the settlement...!