www.iva.co.uk

Hi, we are on our last year of our Iva but I am sure it would be extended a year as we have equity in our house. My parents have offered to pay £10,000 to end our iva early and a meeting is being held on 11th may. We are keeping everything crossed it is accepted as we are both suffering from depression because of all the pressure. What do you think our chances are of it being accepted this year our payments got put up to 800 pound per month.
Now this weekend our car broke down and the engine has gone going to cost us £3000 what car is worth. We are now not knowing what to do about that as I relie on the car for work as I am a lone worker. Anyone else know what we could do in this situation.
This forum have helped me loads reading what others are going through too.
Thanks in advance

Hi and welcome,

Sorry to hear of your health problems. Hopefully your offer will be accepted.

Can your parents help you out in the meantime with help towards the car?

On the car front --- pop into a local, trusted, independent garage and ask them for a quote on an engine transplant ( if indeed, one is required). I have done this a few times in the past -- then get an engine from a donor (ebay) or buy a similar car with rotten bodywork, or damage, but good engine and swap them over.

if you have 12 payments left at £800 totaling £9,600 then I don't see why creditors would reject a higher offer of £10,000...

Good luck with the offer!

Good luck!!!

Cars are the devil!!!!