Iva full and final

SUZANNE2204

full and final advice
I am new in this forum, I need advice on full and final payment. Myself and my husband are in IVA , I am paying £154 & my Husband £195 each month. IVA for 5 years and can be extended if we cannot release any equity for another year. My husband should receive 30000 pounds for critical illiness which he can keep that was told by IVA company. We would like to pay some money as full and final but cannot give the full 30000 pounds. My husband has a cancer, not sure if this is completely currable that we will now later in the year so he will need money for some treatment , to relax and pay hospital parking and heating bills which was really high last winter.On top of this we are not sure that we will still have a job by end of August as our company has been sold and we do not have any idea on what will happen. Both of us are working for the same company.

IVA started in October 2011.

Hope someone can provide some idea on how much we can offer to finish this IVA earlier and focus on my husband Health issues and see if we need to look for new job.

Thanks Suzanne

Lynsey

Saw your post on the "mobiles" thread.
Get professional advice and there is free advice out the from places like:

http://www.cccs.co.uk/
http://www.citizensadvice.org.uk/

Better to get the correct advice rather than "guesswork".

Good luck

Lynsey

Gimpsdad

The trick is to offer as near a dividend as you can. If you have made 8 payments then 52 times £154 is £8,008 and 52 times £195 is £10,140. Given that, if accepted, then there will be no ongoing supervisor fees, you could maybe look at, say, £7k for yours and £9k for his. In my experience, and given the circumstances, I cannot see those offers being rejected. Do be guided by your own IP though as they have detailed knowledge of your case, which of course we don't. Remember though that it is your IVA, so you can insist on the offer being put forward if you want to, let the creditors say no rather than the IP firm.

Unless your IVA is with CCCS, CAB don't do them, then it is pointless ringing anyone who has no knowledge of your case so speak to your own IP.