advice on full and final offer

[jlo]

Hi all,

I am proposing an F+F - I understand your IP guides you and only your creditors can accept or not, but would really appreciate your opinions!

Initial Debt £33,000
Paid £363 for 12 months, then £401 for 12 months, and currently at month 9 of £464 per month.

So far paid around £11,000.

If payments continue, will pay approx £6,000 back over final 24 months.

I have recently had a pay rise, however, husband made redundant, me paying alot more for bills monthly (we rent) and a family is iminent so ultimately my disposable is less than it was before, and is only going to decrease.

If I offer £8000 does this sound completely off the mark?

Thanks

[kallis3]

If you only have £6000 to pay off, then I would offer them that.

Even though you still have three months left to the end of your third year, by the time a creditors meeting has been set up, you should be almost there.

Speak with your IP and see what he/she thinks about it.

Is the money coming from your husbands redundancy payment?

[jlo]

Hi,

Thanks for that - money is coming from my husbands house that he has sold - he had bought it before we got together so it has never been mine. He has just got a job after 4 months redundancy, but it pays half his previous yearly salary so as a result my wage is paying most things!

[kallis3]

You will have to tell your IP where the money has come from, and also make sure you tell them that the money is only available if the full and final is accepted.

Good luck, and let us know how you get on.

[David Mond]

£6,000 is more than enough - I would offer £5,000. Good luck but discuss with your IP.