Some advice please. I am in an IVA about a year and a half through originally paying £18K over 5 years at £300.00 a month on a total debt of 37K. (now paying £368.00) I have so far paid 12 x £300.00, 1 X £330.00 and 5 x £368.00 totalling £5770.00 to the end of March.
I am looking at moving out with my partner and to be honest I will not be able to afford my repayments anymore (have checked) so bankruptcy may be the only option. (I am aware that I will probably have to pay an IPO)
My question is my Parents are looking at giving me some money to possibly clear the IVA, the amount in question £5500.00. Do you think this is likely to be accepted?