Would the IVA be able to accept this to pay it off early ?l

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
 
 

YorkshireRose

User avatar
Posts: 2
Joined: Wed Jun 10, 2015 1:21 pm
Location:

Post by YorkshireRose » Wed Jun 10, 2015 3:09 pm
I have been in a IVA since November 2014 the total amount of debt before iva was 22k the amount over 5 years they want me to pay is 6.5k.

I want to pay this off early if I can. Would I be expected to pay the full 22k or the 6.5k?

The way I will have the funds may be frowned upon but my pedigree dog is due to have a large litter of extremely expensive pups which when sold will leave me with around £7k

Would the iva be able to accept this to pay it off early?p

I am a carer for my autistic son and do not looking to start work for a good while and my circumstances won't change and I am only breeding this once then my dog will be spayed so this will not be a regular "income" for me I'm just desperate to be out of debt

Regards Katherine
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Wed Jun 10, 2015 3:25 pm
You have some replies on your first post which can be found here:

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=71783
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Fri Jun 12, 2015 10:48 am
Yes your Dad could offer £5k in settlement of the £6.5k and get the matter settled early. Your creditor rating will be affected for 6 years from the start of your IVA. I would not mention any monies coming from the sale of the litter as this could be seen as an extra asset due to the estate in addition to your contributions by your IP.
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
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”