www.iva.co.uk

have 18 months lef on iva, diagnosed with serious illness hopefully not going to die, but may have to give up work receives minimal benefits if i do no equity in house as prices have dropped and mortgage hasnt, relative has offered due t illness to make a full and final payment good idea?

Hi Jo

SOrry to hear of your problem. S

ounds like it is the best way to sort it, however as with most things IVA you are better to discuss any matters that will affect the IVA with your IP they will be able to dicuss your options and act upon decisions made there and then. Hope you get well soon

Hi Jo - yes I would definitely go for a full and final. Creditors are more sympathetic towards people who have exceptional reasons for wanting to end the IVA early. If you believe you are in negative equity, try and get a valuation done (tell them you are downsizing due to your illness, it's sometimes hard to get agents to put the valuation in writing - play the game to get it done!)
Make sure your relative puts in the offer letter that the money is ONLY available to fund a full and final offer to help you concentrate on your health.
Well done for getting so far - now is the time to concentrate on you.

Hi Jo! I'm sorry to hear about your diagnosis and really hope you can manage the illness. It is most definitely time to put yourself first and get rid of the debt pressure. In your shoes I wouldn't offer a sum from a relative straight away as they may accept payments to date when/if you need to give up work. Your relative's kind offer may be better put to use by supporting you if you need to give up work. x

Good thinking bol!! Will try to remember that bit of advice for the future (for me!!)

;pgin not working thank you to all your response to Jo tt illness a pain chemo not nice dont find my IP very helpful very negative in fact says we agreed to debt repayment so just have to get on wit it, as thats what cridotrs expect and they will extend if we have no equity th full and final payment froma relative still should include equity

Offer your best it's all you can do and I do think (but not 100% sure) Melanie may confirm that your IP should offer your F&F to your creditors.

Do speak with your IP and hopefully things will get sorted in respect of finalising your IVA.

All the best. x

probaby just go on paying as we normallydo and worry bout equity later towards the end provding im here of course!!

bommy - you must look after no1. Have you actually spoken to your IP or to one of their team?

If you can't get anywhere,I suggest you contact the CAB or see if support groups can help you to try and find the best solution for you.

bommy-contact your iva company and tell them you need to speak to your ip as a matter of urgency. If you get no response KEEP PHONING until you do.Go through their complaints procedure if necessary.
Tell them your circumstances and provide proof of your illness.
Request that they ask for a creditors meeting asap to put forward payments to date,to conclude the iva.
If this is not accepted THEN approach them with an offer of payment to settle.
You need this to be over - your health is more important.

Our creditors requested proof that I was too ill to return to work when setting up our iva,I sent them a letter from my GP to confirm this and the iva was approved,as there was no way possible to pay our debts on one wage.
Your creditors wont have a strong argument to carry on your iva if you can show them evidence that you are too ill to work and will not have the funds to pay.

Bommy I'm sorry to read of your illness and I do hope your IP is sympathetic to what you are going through. You owe it to yourself to push your IP to see what can be done to release your early and as the others have said make sure it is your IP you speak to, not one of their staff. This is an exceptional circumstance, it is not as though you are just trying to get off paying your IVA early. You may need the extra money for travelling costs for your treatment and other things along the way, and the stress will not be doing you any good.

Keep us posted on how you get on with your IP and also how the treatment is going. We're all here to support you, not just about your debts.

Regards,

I'm so sorry to hear of your problems and hope that you will make a full recovery.

I echo all of the above that you should try and push your IP for closure.

You can try and email your IP directly via this link:

http://www.insolvency.gov.uk/fip/

You might get a quicker answer.

The best of luck.