Full & Final Advice

Cw99

Hi

This is my first ever post although have been a regular visitor for the past 2 years. It was advice on this forum that prompted me to face reality and address my problems.

I have an IVA with Debtlifeboat (a fantastic organisation if anyone is considering an IVA) It has been 2 years since my IVA was accepted, total debt was £72k and IVA approved at £510 per month over 5 Years with equity release in year 4 if property had any equity. Things have been good and there have been a few minor problems along the way but Debtlifeboat have been there and sorted everything.

Just before Christmas my Wife became unemployed, a massive blow. As usual DL were great and have given a payment break until April. It still remains a very worrying time. We are both concerned that Bankruptcy could be a real possibility.

I have discussed this with my Mother who has offered £10k towards the IVA, is this worth offering as a Full & Final or is it to low, my estimates it would reduce the dividend to 27p in the £.

The property has negative equity and local prices continue to fall.

I really want my IVA to work out, if anyone has any other suggestions they would be gratefully recieved.