Full and final chances?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1

becky524

User avatar
Posts: 2
Joined: Thu Aug 20, 2020 3:08 pm

Post by becky524 » Thu Aug 20, 2020 3:08 pm
Hi. Me and my partner took out an iva 14 months ago and have kept up with regular payments, we have since separated and our iva company have agreed to sever our ivas. So I will owe just over £12,000 to two creditors. A family member has offered to give me £6000 as a full and final settlement. We have a mortgage but have only been in the house 2 years, the equity in the house is £6000 each not taking in to account the estate agent fees and solicitor fees And the early exit fee on the mortgage. I have done my income and expenditure and now he’s left and I have to pay everything on my own my iva will fail if they don’t accept my offer. What do you think the chances will be?

Foggy

User avatar
Forum Expert
Posts: 31360
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Thu Aug 20, 2020 3:42 pm
It sounds like they will still get a good dividend from that offer -- without the added admin costs that an IVA usually presents. I think it should be taken seriously.
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

becky524

User avatar
Posts: 2
Joined: Thu Aug 20, 2020 3:08 pm

Post by becky524 » Thu Aug 20, 2020 4:47 pm
Thank you for your reply.
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”