www.iva.co.uk

Hi, I posted a question regarding a new I & E after starting a new job, my dad could see how much the whole thing was stressing me out and offered to lend me the money to pay the IVA off early, I'm 2 years into the IVA and I've worked out my remaining payments come to £6200, I should add that my new job is on less money, is the process of paying a F & F as simple as offering them £6200 or is it a lot more complicated than that?

Hi Dean

Yes its roughly that simple.

I wouldn't offer as much as £6.2 btw, I would offer less. Maybe try £5k? They have to bear in mind all the costs and extra 3-4 years of you continuing to drip feed into the IVA if they don't accept the offer.

Your IP will probably want to see a statement/some evidence form your Dad proving the funds are coming from him. Some ask for ID too.

Make sure your offer includes a statement that the offer will reduce by any further contributions you make in the meantime.

Best of luck - you should have the answer within 5-6 weeks of sending you offer and all the supporting documents required.

In addition to Lisa's suggestions, above, make it clear that the monies are third party funds, are for the purposes of a F&F only and, if the offer is rejected by creditors, will be retained by the donor and will not be available to the IVA estate.

Best of luck.