www.iva.co.uk

Hi,

I am approaching end of year 2 of an IVA. My friend has offered to pay the outstanding amount to get me out of the agreement, and my supervisors have supplied a final sum.

However, they have asked for proof the funds are available before approaching my creditors - I'm a bit worried about this as my friend will be going to trouble to make the money available but the offer might not be accepted - are final values generally accepted or are there some companies who will tend to reject these? And why would the funds need to be available before the supervisor would approach the creditors?

Thanks

Hi there. I think most firms will expect to see the funds in place and ready.

Ang

Hi
There is a lot of work for your IP to do and they need to be sure that the funds will be available before they start this work
Regards

I would not put an offer of variation forward without evidence that funds were on hand, and preferably I would like to see that money sitting in my client account - of course to be refunded in the event that creditors did not accept.