Currently 12 months into my IVA (6 year payment term, negotiated up from 5 during initial creditor meeting). Paying £80 per month.
A relative has offered to pay a full and final settlement.
I have 60 months left @ £80 = £4,800.
The reasons for wanting to complete the IVA early are my mental health has suffered really bad with it, had massive anxiety around annual review even though it went fine, I own no property and have no valuable assets. My son will be going to nursery in August (just not sure on total hours yet) which will likely affect my I&E due to nursery costs.
My relative is willing to offer £6,500 as a full and final.
Any thoughts on likelihood of being accepted?