www.iva.co.uk

Hi,
I was paying £160 per month, but few months ago got it reduced my 15% so now I am paying £136 per month.
I have had some payment breaks where I haven’t paid anything as I was out of work. However I’m back paying £136 p/m, I was told I need to pay back £8616 And I have paid £3992 to date. I have £4624 left to pay in total, over another 33 months.
I want to get out of paying this and am hoping I will receive some money as a gift from a family member soon, therefore what would you advise I do? How much would I offer to get out of it quicker that will be accepted?
I want to buy my flat In the next year, however I won’t be able to with being in an IVA but I have also read I will be on the IvA list for 6 years from the day I started my IVA and probably won’t be able to buy unless I have a guarantor is this correct?
I need advice what to do, if also like to go abroad for 6 months before I buy my flat and won’t be able to make these mot gym payments. Please advise what I should do and if there is any point if I am going to be affected for 6 years anyway from when I took the Iva out?

The 33 remaining payments total just over £4.5k, so your offer would be based on that, plus any missed payments, which get added back on.

Do not allow the family member to gift you the money --- if you get such a gift it will be sucked into the IVA as a windfall.When you make your offer you state that the money is from a family member and is only for the purposes of the full and final offer. If the offer is accepted the family member should pay the IP directly.

As for everything else ... calm down and take a breather. You are trying to run before you can walk ! Once the IVA has completed a mortgage might be possible, but harder to get and more expensive. But you will need to have saved up a good deposit, along with legal fees. This will take some time, which would be longer with the trip abroad too.

With patience and planning most things can be achieved in time ... one step at a time.