7 months in and possible f+f

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rae25
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by rae25 » Sun Feb 18, 2018 7:47 pm
I can't believe how quickly the time has gone. A year ago to now I was in financial hell. Not sleeping and paying off credit card minimum payments then using the available a few days later. I pay 166 a month and total over 5 years was 9960 . I don't own my home so consider it just the five years. I actually find being in an iva OK, I'm better off each month. I budget well and don't miss out as for so long I was living with nothing anyway due to my debts being so high. My sister has offered f+f to me although I haven't approached credit fix and she was thinking 5/6 k as an offer.i know we have to say it's a gift but she would actually want paying back it just gets me out of the restrictions of an iva. Am i allowed to pay her back or could they find out? Thanks
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Foggy
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by Foggy » Sun Feb 18, 2018 7:55 pm
After the IVA is concluded and you have your completion certificate it is up to you what money you give your sister !

Your creditors are expecting around £8.6k more, so I would think an offer around £6k would be looked at seriously.

Good luck.
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kallis3
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by kallis3 » Sun Feb 18, 2018 8:57 pm
Agree with Foggy.
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luluj
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by luluj » Mon Feb 19, 2018 6:58 am
But bear in mind the iva will remain on your credit file for the full 6 years since its start date.
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Lisa Thomas
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by Lisa Thomas » Mon Feb 19, 2018 9:59 am
Legally I don't think your sister would be able to pursue you for the debt as she will have confirmed it was a gift, but obviously if morally you choose to pay her back that is up to you.

Here is my short video on full and final offers:

https://youtu.be/h4dozq9aGak
Mrs_Brown
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by Mrs_Brown » Mon Feb 19, 2018 6:35 pm
You have described where I was until I finally sorted the IVA, making minimum payments, spending the difference, not sleeping. My only regret is not having set it up sooner. Good luck with the F&F, hope it all works out.
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