A family member has offered to pay a full and final settlement

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granville
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by granville » Thu Aug 17, 2017 12:42 pm
Hi, Thankyou in advance for your help and advice.
A family member has offered to pay a full and final settlement for us. What is the process for dealing with this? What is required?
Any help greatly appreciated.
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Foggy
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by Foggy » Thu Aug 17, 2017 1:08 pm
Some IP's will be happy for a phone call to start the ball rolling, but many require the request in writing. The will need proof of the funds and where they are coming from ( often a letter from the donor ) and they might want to see bank statements proving this.

Here is a template letter: https://www.iva.co.uk/letter6-f-and-f-offer-during-iva

The sum is usually based on the months remaining multiplied by the current monthly amount and can be slightly rounded down to reflect circumstances, savings in administraton, bird in the hand effect etc.
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Lisa Thomas
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by Lisa Thomas » Thu Aug 17, 2017 3:28 pm
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