i was in a IVA for 4 years then lost my job, i borrowed £2000.00 from a family member and explained to the IVA company i could make an offer of that amount as a one of final payment,which they agreed to, can i consider that my IVA would be finished
If it is accepted by your creditors (and there would have to be a variation meeting) then your IVA would be completed. You would have to stipulate that this money would only be available for a full and final offer.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The IVA would be finished insofar as you would no longer be required to make the monthly payments after you paid in the agreed lump sum. You will still be in and bound by the IVA until the IP issues the completion paperwork, which could take up to 6 months. During this period you would still have to pay in windfalls (lottery wins, inheritances and the like) and equity if you sell property.
When you say, in your post, that they agreed to the £2000 lump sum being offered .... this is not the same as the creditors actually agreeing to accept the lump sum ---- has a variation meeting taken place yet ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk