www.iva.co.uk

Hi, I'm making a F& F offer due to a kind family member offering the funds for this purpose. I've been told that they need to write a letter saying the money is only for this purpose and the reason why. He is doing it to relieve the stress I'm under is this a good enough reason to state? Can anyone advise what they wrote in this situation?

Thank you

Hi Ruth, Yes, relief of stress is as good a reason as any. You only really need a compelling reason such as ill health, loss of income, etc., if you are making an offer substantially lower then that which the creditors would get if they pursue the IVA to full term.

If the offer is close to what they signed up for they are usually happy to accept as they are getting what they expected and, as a bonus, getting it in a lump, rather than dribs and drabs which cost a lot for them to administer.

Thank you foggy, my offer is very close to what they would be receiving.