Can I make a reduced offer as final payment ?

Get expert opinion. This is the place for new questions to be posted.
4 posts Page 1 of 1
 
 

Derek.07

User avatar
Posts: 1
Joined: Mon Oct 18, 2010 8:15 am

Post by Derek.07 » Mon Oct 18, 2010 8:15 am
5 payments of £435 left. Can I make a reduced offer to pay it off . ??
 
 

Lord Soth

User avatar
Posts: 52
Joined: Sat Jan 05, 2008 7:57 pm
Location: United Kingdom

Post by Lord Soth » Mon Oct 18, 2010 8:33 am
I don't think this would be possible because there's an admin cost to propose a variation and it would be very difficult to make a compelling case given the very short timeline.

You've not very long to go now, very well done.
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Mon Oct 18, 2010 8:48 am
Hi Derek and welcome to the forum, with only 5 months to go it might be advisable to sail through it, it would take a while for a F&F to go through and you're almost there well done on getting there.

Have a word with your IP get their views on it? x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Michael Peoples

User avatar
Industry Expert
Posts: 15189
Joined: Mon Nov 03, 2008 12:36 pm
Location:

Post by Michael Peoples » Mon Oct 18, 2010 9:20 am
If there is a reason why you cannot make the payments as agreed creditors would look favourably on an early settlement. Otherwise they would expect the IVA to run the remaining five months.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
4 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”