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[gdhaydock]

Hi, Advice if possible please.

I entered a 5 year IVA just over 2 years ago, total debt was 55k, voluntary contributions to be approx 33k - so far so good, never missed a payment etc.

However change of circumstances, my Dad died in July, I'm living with my Mum who's only income is a state pension. I didn't inherit any money from my dad as he didn't have any!!! (life insurance policy cleared his debts and that was it)

However she has said she can make available approx 10k for me to try and get a full & final settlement, so that my income can then help with more bills etc and enable her to keep the house.

I've not spoken to my IP about this yet as I don't want to stir up a wasps nest and make the situation worse, but I could do with some advice from someone who's looked at offering a full & final settlement whilst partway though a 'normal' IVA.

Kind regards

GH

[Hg]

It might be that creditors would prefer £10k now rather than the hope of £19,800 later, but I'm not sure.

I think it would be worth speaking to the IP about this, as they should be most able to help you by telling you what creditors would expect, and as it would be them that would put it into practice.

Naturally, you want to make it clear that this is money that isn't yours and that you aren't entitled to, or they'll be wondering if they can have it anyway as well!