Hi ive had a iva since feb and its all been fine but i have since sold my house and want to settle early due to my mother inlaw being ill i have made an early offer lump sum which is lower then i owe is this likely to be accepted
If you have sold your house the IVA will require the equity to be paid in for the benefit of creditors -- unless you have come to any arrangement in this respect with your IP. The creditors would look at any offer on a purely business level and acceptance, or otherwise, would depend on the relative figures. They may vbe just as happy to get the IVA over and done with as you ... but might not be happy to bargain with money that is rightfully their anyway. However, stranger things have happened ......
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Based on what you have said it sounds as if you are too late to make an offer from the sale proceeds.
I suspect ALL of the net proceeds will have to be paid into the IVA unless and until the total debts, any applicable interest and costs have been paid off in full.
