www.iva.co.uk

Firstly, sorry I haven't been on for so long - been off work ill for a few weeks.

Secondly, I could possibly be coming in to some money in the next couple of months. If I was to make a proposal to my IP for a F&F settlement, based on my IVA (£16,500 based on £270/month - I have made three payments), what sort of level of payment would I be looking to have to make?

Sorry to be impatient, but anyone any ideas so I have an idea whether I can offer a F&F payment?

Hi
I presume that you are getting some form of inheritence or windfall ?
If so I'm afraid that all of it will be expected to be paid into your IVA,upto the original debt figure plus IP fees and statutory interest[less monies already paid]
Regards

Where is the money likely to be coming from?

It would be from an inheritance, completely unexpected and I have been told could be up to £10,000.

Is there anything I can do, because obviously I don't really just want to 'lose' the £10,000, or whatever it ends up at if there is an alternative. I am all for repaying my creditors as much as I can from my monthly wages, but (as I think most people would agree) this is a little different, and my immediate thought about the money would be as a deposit on a house once my IVA has finished.

When you sign up to an IVA you sign up to a commitment to repay the money that you borrowed from creditors. This includes windfalls, so you will not "lose" the money it will simply be used to repay your debts.

What you have to remember is if you were not in an IVA and you inherited 10k what would you have done with it?
Paid off some of your debts i guess.
At least this way your IVA will finish earlier and you have had all the advantages of the IVA comfort blanket, no extra interest, no harrassing telephone calls, no visit from your friendly local baliff etc etc etc.
steve

16 down 44 to go

Also dont be tempted to not declare the money,
Your IP is guarenteed to find out, im not sure how but they seem to have eyes everywhere,
the result will be BANKRUPCY for failing to carry out your legal obligation under the t&c of your IVA.

16 DOWN 44 TO GO!!!!!!!!!!!

OK, I can see your point - I suppose at least the IVA will be paid off sooner, I can see that - just a bit disappointed that I will not be able to use that money for something that I would have rather it gone towards.