Lucy2222 wrote:Foggy wrote:I would suggest a chat with another firm, just to compare advice.
What would you think about a full and final Iva payment. I would be offering 7,000 as a gift from my parents. That would be more than they would receive through Iva payments and also bankruptcy?
Certainly worth entertaining as it will give all parties a degree of certainty.
Why would your parents give away £7k of their savings on this basis?
Have you taken any advice?
The lump sum is usually done to avoid a formal Insolvency procedure because you have assets to protect or need to avoid the consequences, perhaps the need to continue to be a Director etc.
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