www.iva.co.uk

Hi I am 47 months in on my IVA I have a telephone meeting set up with my IVA Grant Thornton on 24th Jan to start the ball rolling on an early settlement. My daughter's father has said he will help me to settle early and I can pay him back he would ideally like to settle on a credit card that he has a 0% deal on. Is that an option or does it have to be cash/cheque or debit card?
Thanks

Lucy

Hi and welcome and well done for getting so far.

I'm not sure what would happen credit card wise, but I wouldn't recommend it as it will cost him such a lot in interest.

If he is thinking of settling it for you, could he not take out a loan? It would cost him a lot less in the long run.

Hi
I think that will be fine, however not sure how Grant Thornton could process that ?
Regards

I'm not sure either I guess I will have to ask them and see what happens.

also the reason why he suggested a credit card is he has one with 0% for 16 months so we won't be paying any interest.

Hopefully you will be able to pay off that amount in the time allowed for the interest free credit.

Hi
Yes, it sounds quite sensible to me. Nothing wrong with a third party taking a loan [credit card] to settle someones IVA.
I think the problem will be processing the transaction
Regards

I would imagine a firm the size of GT would have no problem taking a credit card payment - they must have hundreds of tax and audit clients who pay their bills in a similar manner.