is it enough??

[dry debt rot]

hi all i have paid £13,400 into my iva its been going for 2 years at £555 a month the total i need to pay is £33,000 my father said he would borrow me £15,000 max and i would pay him back do you think this offer would be a waste of time?i also have a 4th year remorgage to raise £1,025 it is set at this figure.my wife is really depressed with the iva i was just wanting to know if £28,400 would be accepted.

regards

[MelanieGiles]

I don't see why this would not be acceptable, however your own IP needs to give guidance on this as he/she has detailed knowledge of your case.

[dry debt rot]

thx mel for rapid reply so my next step would be to contact the iva office and should i say that my father will lend me the money? the only thing i worry about is that they wont accept and still ask for the money uff

[MelanieGiles]

Yes - go for it, as you have nothing to lose.

[dry debt rot]

can you give me an estimate of how much ip fees will be saved if the iva only lasted 2yrs instead of 5yrs?maybe £15,000 is on the high side to offer incase they ask for more opinions please [:I]and thx again what a super site this is for proffesional advice in seconds that you would normally pay through the nose for[:)]

[Lisa2009]

Have a look on your proposal, it should tell you how much per year you are being charged for fees. Remember also there will be a charge for the variation meeting but this will simply be drawn from the funds.

Make it clear to your IP that the money will ONLY be available if the offer is accepted and that you will then be using your disposable income to pay the money back.