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Gifting money
Comments
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Could you not save the money and gift it to him once the IVA is over?
I believe it’s possible to attach conditions to the gift, ie that the gift is only to be used to purchase a house or must not be used to repay debt. But that’s more usual when arranging funds for a full and final, I’m not sure it’d work for what you propose
Depending on the sum you are thinking of an offer to clear IVA might be helpful, your don could then save the IVA repayment. Your looking at an amount nearing the payments left x monthly repayment you might get away with 10 or so less (Depends on circumstances really)1 -
Wouldn't paying off his debt be a better option? He could then start to save with the money currently going towards the IVA?0
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