creditors meeting next week and am a nervous wreck

[SueB]

I would be interested to read of any previous experience of offers of early Full and Final settlements - Ive got my creditors meeting coming up next week and am a nervous wreck.

Any comments / thoughts appreciated as the offer I've put forward seems a lot less than others ive previously read about.

Ive paid just over 4 years into iva.
My initial offer 4 years ago was 20p in £ which was accepted. The iva was over 6 years to exclude my property

Anyway I offered easrly f&f what I thought at the time would be the Full amount that I would have paid over the final 22 months of £6500 but it seems after the IP take fees for holding meeting it will be 15p in £. (i.e ive paid £13k of the total 19.5 k and now offered £6500 to clear through remortgage)

Wont be sleeping for the next few days worrying if it will be accepted or not.



I think at my initial meeting to set up the iva in the first place there was only 2 of my 9 creditors voted and they both voted yes.
Any comments appreciated.
Many thanks

[Adam Davies]

Hi
It seems strange that your IP fees will affect the dividend by 5p,there should be a saving in costs by ending the IVA early and this should offset the variation fees.
Has your IP stated the reduced dividend in the variation proposal ?

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp