Will have a gift for F&F settlement in 6 months

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Nikl

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Post by Nikl » Mon Mar 12, 2018 4:55 pm
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I took out an IVA in October. I pay £111 for a debt of £27,000. (£6600) in contributions).

It has been offered by a family member that in 5 months they could offer me £4600 to pay off my debt, of which I would have £5600 left to pay. Do you think they would accept this?
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Foggy

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Post by Foggy » Mon Mar 12, 2018 5:15 pm
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It is certainly worth a try -- after all they will be saving 4 years of admin costs. Remember to state that these are third party funds, for the purposes of a F&F only. If the offer is rejected the donor will retain the money and it will not thrn be available to the creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post by Lisa Thomas » Thu Mar 15, 2018 10:29 am
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Sounds reasonable to me.

You might like to start the process sooner as some firms take longer than they should to call the necessary variation meeting.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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