Full and final???

[JuliaE]

Well its been a bit of a yo yo year. Thanks to melanie I managed to get a variation meeting and change was accepted.. since then everything else has gone wrong... new IP, no sense on the phone etc etc.. My partner (soon to be ex partner!) is about to sell his old house.He has offered to lend me the money for a full and final and I pay him back in smaller monthly instalments. I probably wont be able to to keep up my IVA payments when he leaves, this is why he has offered this money because it would be no point selling house as it would be not be worth any profit to him. In long term maybe..
they agreed a divedend of 26p in £. 60 payments of 320. Since april 2008 i have been paying 400 per month. My iva started Jan 2006.

So far I have paid in 11,120. do you think 8k would be reasonable as i have two years left as of jan 2009? and pay the 400 for nov and dec thanks

[Viki.W]

Sorry your having problems with your new IP Julia, If you can get that money then I think you should offer it, make a fresh start, if you can't afford your IVA payments. I can't get my head around how much to offer but I'm sure Melanie will be along shortly to advise you. X

[JuliaE]

Thanks vikki, my head is in the shed lol

[Adam Davies]

Hi
A very good offer and under the circumstances I'm sure would be accepted.
Write to your IP with the offer,stating that you will be using your disposible income to repay your partner each month
Regards

[MelanieGiles]

Hi Julia

It does look a good offer, but you will need to persuade your IP to put it forward so soon after the last variation. Having said that, it gives creditors their money much earlier, so I would have thought you ought to have it accepted, especially in the circumstances you have described.

[David Mond]

Let us know if you have any problems with your IP in submitting another variation here on this forum. Good luck as what you have suggested seems perfect and fair.

[Viki.W]

Hey Julia, you can get your head out of the shed, the experts reckon it's a good offer. Go for it and I wish you all the luck in the world. [:)]X

[Skippy]

Good luck Julia x

[JuliaE]

Thanks everyone much appreciated x

[james.c]

Good Luck

[JuliaE]

Hi all is there any particular things I should put in letter? should I explain circumstances etc? thanks

[MelanieGiles]

Yes - a full explanation of the reasons that find you in financial difficulties is a good starting point to negotiating revised terms.

[David Mond]

Just put it as it is and hold nothing back - good luck

[JuliaE]

Will it cost £1000 again for my IP to put forward a F & F?

[creditcrunched]

it wont cost you extra money if it is accepted it will be coming out of the moneys already paid into the iva