www.iva.co.uk

hmm i am in the middle of a f+f variation but the ip wants the funds upfront these are coming from my relation but my question is. If it is rejected and she has taken the loan out and it is not needed there will be extra charges to give it back to the bank you cant win[:I].Would it not make sense to send the monies on later as it has been agreed with the bank that the loan is accepted or would creditors look down on this?

regards

Could you not just send proof that the money is available ONLY if the F&F is accepted??

hi thx for quick reply they have sent a letter to my relatives address and it states that monies have to be paid to them before the meeting date

I would ring your IP and explain that your relative is uncomfortable with handing over the money untill the F&F is accepted and ask if maybe the relative could just send proof that the money is available.

Just a thought xx

i agree with you mrs skint-proof that funds will be available should be ok-send proof to your ip lost. good luck

Thx i will phone the ip in the morning i hope he accepts this.

Its understandable that someone would feel unsettled with handing over a large sum of money for something that they dont have a guarantee will be accepted.

I'm sure a word with your IP should clear this up xx

I would not advise your relative to draw down on the loan until the creditors have accepted your IVA. If they do, there are bound to be charges levied to pay the money back.