**Urgent** IVA help please!!

plimsolls_on

its true that IVA rules on compensation pay outs are broadly in line with bankruptcy rules (I.E. they can't touch it), if its for pain and suffering. There are some issues surrounding loss of earnings, but in my case my company continued to pay me through my absence so that did not form part of my settlement..

cheesedoffwithdebt

HI- notwithstanding the other replies my first reaction is that in the circumstances its likely to be accepted- because, the alternative you have would probably be bankruptcy. If you chose that, then your creditors would not recover as much, your IP would put the bones on that statement but it's likely to be the case because when a petition is drawn up for an IVA there is a comparison worked about about what creditors would get back from a bankruptcy which is often lower.

It might be a good idea to do a little of the work for them though- I am cynical about the quality of staff at some of the charities. Explain what's left on the IVA, show them your current income, and that you won't be able to continue the IVA payments. It won't take much thinking time then for them to agree to put a proposal for a F&F together- hope it goes well for you.

ClaireWilko

Thanks!

I've looked on this forum and one lady had an offer of £7500 total accepted on her IVA full and final, much lower than mine! They also had the same total amount of debt as me too