www.iva.co.uk

Has anyone been through the full and final settlement process with a change of circumstance that could offer their knowledge?

Hi,havent been on for a loooonngggg time but still mooch around every now and then

With regards to your question,yes,we are in a full and final and our circumstances have changed 3 times
We were trying to sell our property to pay off the debt which was agreed but after 6 months couldnt sell,so we decided to rent and asked our IP if we could rent our prorperty out(we have a one bed flat with 2 kids-very cramped),rent a bigger one and see how the market is in a year,then hopefully sell,creditors agreed to this
Now we have had yet another change of plan,my father in law passed away suddenly in April and mother inlaw is selling the house and moving in with us for a while,she offered to pay the IVA off for us once the money comes through from the sale,(we will be paying her back when we eventualy sell)which the IP agreed again-so my advice is,any changes let the IP know-common sense tells the creditors what the best chance of getting there money will be and if it takes a few extra months then anticipated then so be it.All I can say is that my IP is very,very good-we are with McCambridge Duffy
Hope this helps

Hi there thanks for the reply. My parents have offered some money but it is quite a bit off of the dividend we agreed but my job has changed due to illness and childcare increased so we are £135 short of our payment each month and that is with us now on a variable mortgage so could change. We are not really sure what is happening with our IVA and if they are going to put it forward through and am pulling my hair out. We too are cramped for space and need to move so our son and daughter can have a bedroom each.

My advice is to talk with your IP,you will find that they will be as helpful as possible.Its best that the creditors get something rather than nothing...