www.iva.co.uk

I am currently paying 123 p/m and have around 45/50 payments left (debt free direct) , mum has offered to pay debt off. Any advice?

Hi and welcome,

Mum can help with this and what a lovely mum you have!

What is she offering to pay?

Hi thank you for the response. I feel lucky but also slightly embarrassed by it all, she said she will pay up to 6k but could pay more if necessary, obviously I want to offer as little as possible just want it done with to be honest. I just don't really know how to approach debt free direct.

Cheers

You could try offering less - I reckon 5k but one of our other experts might suggest less than that but of course as it's Bank Holiday there might not be many about!!!

Tell DFD that you wish to do this but that the money is only available for this full and final and will be withdrawn if not accepted.

Your mum will have to supply details as to where the money is coming from (it's all to do with money laundering) and we do have a rep from DFD on here so hopefully she will see this tomorrow and get in touch.

Hi
Do you have 45 of 60 payments left ?

I would suggest starting at 5k as an offer, there should be some savings on IP fees

Write to your actual IP outlining the offer and stating that it will only be made available if used to conclude your IVA

Good Luck

Regards

I agree offer £5k. Best of luck.

I agree with the above -- don't mention the possibility of finding more money initially -- play that card close to your chest. Best of luck.

Dear Thomasdr7

If you wish to proceed with this please contact me directly via the email address in my profile. This will allow me to discuss your corcumstances in further depth.

Kind regards

Don't do it via Laura - they now know you can up the offer.

Having said that its up to creditors to decide, not the IP and the IP has no right to speculate what funds your parents might have - just insist on seeing a copy of the variation report before it goes. You can also include one of your own so you get to put your own view to creditors.

Thanks for all the input it's all useful. I spoke to someone last week, remaining debt is 6.2k so does 5k seem a fair offer or is it too high or low? Expecting a phone call from dfd this week to discuss in further.

Cheers

Thomas.

The closer you are to the same amount, the more attractive it is and more likely creditors will accept it. IN your case you are offering to settle the IVA c4 years early so I think £5k is reasonable to get it settled so early.