www.iva.co.uk

Hi, it's been a while since I posted on here.
I am 11 payments into my iva. I pay £200 per month. Therefore it was forecasted that I would repay a total of £12,000 back to my creditors. I work for the prison service and many of you will have seen in the news that they are closing a number of establishments nationally, with more to come over the next couple of years. I am considering my options at present. I have wanted to leave the job for a number of years and feel I may decide to jump before I'm pushed, as I really don't want to uproot my family to move prisons, if I get the chance! My income is likely to drop considerably if I do, but can't deal with the day to day stress of the job anymore.
Anyway, my father in-law has kindly offered to pay a lump to end my iva early. He is looking at around £8,000. Just wanted to put this out there and see if anyone thinks this is likely to be accepted from their experiences.
Many thanks

In the circumstances you decribe, it may well be possible to make an offer at that sort of level to your creditors. Give your own IP a call to sound them out and see what they think.

If the circumstances you describe are presented well to the creditors I think it might have legs, as you have payments of around £2200, plus a couple to come until this could be arranged --- say £2600, leaves potential further payments of £9400.

Thanks Melanie, it is actually run through one of your colleagues at jones Giles. I calculated that I have paid £2,200 so far, taking the total down to £9,800, minus any fees. It that about right? I wouldn't want to put it forward if it wasn't good enough,

Thanks Foggy, I just typed basically what you said, but you made it sound better

Forgot to mention, I have no assets, so no equity etc to pay at end of iva

Even better

If you are a client of mine - I would always prefer this being run by us directly as opposed to on a public forum where none of us know the real facts. I cannot identify you from your forum name, so could you please drop me a quick e-mail so I can discuss this with the person you originally spoke with.

I was planning to do that today Meleanie, I just wanted a little advice from others that may have gone through similar circumstances or read about them. Thanks

we are in the same situation Hypnomonkey with my husband being a prison officer working at one of the prisons affected, relocating isn't going to be an option for us as we rely too much on parents for childcare who live closeby, we are also with Mel, Mel did you get my emails I sent last week as I haven't had a reply as yet?

Yes Lem - we will get round to you in the next couple of days.