www.iva.co.uk

Hi I and my husband have just under 2 years left to pay into our IVA. A friend of mine has offered to pay £2000 as F&F settlement. our debts were originally £26000, We have up to date payed 35 payments of £218, followed by now paying £290 pm, with some months paying more due to additional income. On my last annual review, they were dividing 13 pence in the pound.
In addition, my IVA are currently in the process of claiming back PPI that i did not know we had paid ! So would this PPI plus £2000 F&F settlement figure likely to be accepted ? If so, what would I need to do next?
Any help would be much appreciated [:D]

If you are managing to pay £290 it is highly likely that your creditors would want the arrangement to run its course as this would raise around £7k without the overtime. I would think your offer would need to be at least £5k to stand any chance but there is no harm in asking your own IP. If you are struggling the offer could be accepted as there then would be no guarantee of creditors receiving the remaining payments.

thank you for your reply, together with the PPI claim and our offer would equal between £4000-£5000 in total as a F&F settlement figure, so this would likely to be excepted ? I contacted my IVA manager who said that the PPI claim would stand me in good chance, nothing to lose to apply and see what happens I suppose. Thank you again

Be guided by what your own IP says as they know your case intimately, if they are prepared to put it forward they must be confident it will be accepted

I believe your offer should be made on the basis of affordability however depending on the terms of your IVA PPI refunds may be classed as a windfall and therefore would be treated as an additional payment towards your original creditors amount of 26k.
As Lem says be guided by your own IP for specific case advice.