Posted: Sat Aug 04, 2007 11:36 pm
Hi
Have recently moved house which has now made my IVA a real struggle due to increased travel costs amongst other things. It's a bit complicated but I pretty much had to move.
A family member has offered to give me 20k to offer in settlement but I still owe 34k having made payments for 7 months. (Original debts were 72k and am paying £0.46 in £) I want to try and offer this to my creditors to settle the IVA but I am aware this is not the agreed return however the alternative may well be my bankruptcy. Will this be rejected out of hand? The estimated dividend to creditors if I am bankrupt would be just 2k and 20k is much better than that?
any advice is much appreciated.
Have recently moved house which has now made my IVA a real struggle due to increased travel costs amongst other things. It's a bit complicated but I pretty much had to move.
A family member has offered to give me 20k to offer in settlement but I still owe 34k having made payments for 7 months. (Original debts were 72k and am paying £0.46 in £) I want to try and offer this to my creditors to settle the IVA but I am aware this is not the agreed return however the alternative may well be my bankruptcy. Will this be rejected out of hand? The estimated dividend to creditors if I am bankrupt would be just 2k and 20k is much better than that?
any advice is much appreciated.