Full and final settlement offered by my Mum

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Rich

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Post by Rich » Wed Feb 15, 2012 10:29 am
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Full and final offer..
Last edited by Rich on Thu Feb 16, 2012 1:41 pm, edited 1 time in total.
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Foggy

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Post by Foggy » Wed Feb 15, 2012 11:44 am
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Hi Rich. Don't worry about spelling ... you should see my typing !!!

Anyway .... is there a reason why your surplus has dropped from 313 to 110 ? Or, am I reading this wrong, and you have an extra 110 on top of the 313 ??
My opinions are merely that .. opinions based on experience. Always seek professional advice.
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Rich

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Post by Rich » Wed Feb 15, 2012 1:35 pm
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I have now lost the child benefit `foggy
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Rich

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Post by Rich » Wed Feb 15, 2012 1:40 pm
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to be honest I have had enough of this...
"Always remember that the future comes one day at a time."
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Rich

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Post by Rich » Wed Feb 15, 2012 1:48 pm
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also I am on a fixed rate mortgage with northern rock. I called them and they said when my fixed rate ends in april I will go on to their variable rate as they no longer offer deals for customers It seems so unfair.... I will now end up paying more....
"Always remember that the future comes one day at a time."
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Rich

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Post by Rich » Wed Feb 15, 2012 5:23 pm
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just had a letter from my IP. It says that if the full and final offer is not accepted they will go for Bankruptcy. I have copied and pasted below from letter

Should this meeting be rejected by creditors, the Supervisor will withdraw from the arrangement, declare the arrangement as failed AND petition for the debtor's bankruptcy.

Is this what normally happens ?
"Always remember that the future comes one day at a time."
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Rich

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Post by Rich » Wed Feb 15, 2012 5:49 pm
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any advice would be appreciated...
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Skippy

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Post by Skippy » Wed Feb 15, 2012 5:56 pm
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Sorry you're having all this worry Rich. Hopefully Mel, Michael or Andy will see this and be able to advise.
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Rich

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Post by Rich » Wed Feb 15, 2012 6:04 pm
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Thanks Skippy, I was beginning to think that no one wanted to give me any advice. Im just so worried about it all. At the end of the day I know Im on my own. Just need some help in making the right decisions.
"Always remember that the future comes one day at a time."
IVA completed . Just started a blog, if you get chance please take a look.
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Skippy

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Post by Skippy » Wed Feb 15, 2012 6:10 pm
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Unfortunately I don't know the answers but one of the experts will I'm sure.

If it did come to BR would it have any effect on your career, assets etc?
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Skippy

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Post by Skippy » Wed Feb 15, 2012 6:23 pm
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Right, I can see why you can't go BR. I hope you get an answer from an expert and can sort this out with your IP x
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Rich

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Post by Rich » Wed Feb 15, 2012 6:33 pm
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lets hope so Skippy thanks again for your comments x
"Always remember that the future comes one day at a time."
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MelanieGiles

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Post by MelanieGiles » Thu Feb 16, 2012 12:35 am
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Sounds like a good offer to me given the circumstnaces you describe, but why on earth was the loss of child benefit not forseen at the outset?
Regards, Melanie Giles, Insolvency Practitioner
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Broke of London

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Post by Broke of London » Thu Feb 16, 2012 11:41 am
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Hi Rich,

Sounds positive from Mel!

Are you with Payplan? We have another poster on here questioning the inclusion of this clause in a variation proposal.

Would you be able to continue with the IVA if the offer was refused? Could your mum subsidise payments for example?
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kallis3

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Post by kallis3 » Thu Feb 16, 2012 11:44 am
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He is with Payplan and hopefully Nick will pick up on the email and be able to advise both posters.
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