www.iva.co.uk

My OH is in IVA. She has paid IVA for 6 months. 12,150 is still left to be paid.
My Questions are:

1.Can she offer Full & Final now and how much to offer.
2.Can anybody provide us with draft letter of full & final offer or is this provided by IP.
3. My son who stays with us will become Doctor next year; will his income be taken into consideration when she sends her annual review. Or do we have to inform our IP.
4. When offering F&F offer now ,will IP look into our home Equity or Mortgage statement which is in our joint name.

A F&F is usually proposed when redundance/illness or similar happens, however talk with your IP. The amount offered needs to be as near to the original dividend as possible. Your son will need to pay his way within the household but I would doubt they'll be interested in his income. You will need to state what your offer is and where the funds are coming from as well as a reason as to why you need to conclude early. If there is an equity release you would need to take some case specific advice from OH's IP. All the best. x

Lesley, where can I have sample letter for F & F pls.

I think you just need to state why you want to do a full and final and where the money is coming from. Do make sure that the person who is going to offer the money states that it is only available for this purpose.

As regards your son, that income will not be taken into consideration for the IVA. If he is living at home then he will be expected to pay his way but that's all.

Speak to your IP company and see what they say.