I have just had the paperwork for my full and final. I was paying 68.7p in the £ and has gone down with the full and finl settlement to 49.8p. This seems like such a big drop. I just wondered if anyone had any experience of being accepted with such a drop.
When you actually work out on paper how much each creditor will still walk away with in comparisum, it doesnt look that harsh.
Good luck with it, its still a good offer compared to some that have been accepted.
Nice to see you again - let us know how you get on.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Yeah thats the thing Melanie, the only reason is my Dad has offered me the money. What happens if they say no, it seems to refer in the paper work that if creditors dont accept I will go bankrupt!
hi rockstar 49.8p is well above the average dividend associated with iva,s.my final offer was accepted at 30p,and there are many members who have had there offers accepted with a lot lower dividends,everybodies circumstances are different,but with a high divi still offered to your creditors i think and hope you will be debt free by xmas,if your ip has proposed your offer to your creditors on your behalf i think your chances of approval are %90 plus good luck.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
rockstarloz wrote:
What happens if they say no, it seems to refer in the paper work that if creditors dont accept I will go bankrupt!
I would query that with your IP, when I first received my full and final proposal it made reference to bankruptcy. I rang to query this and it seems they use a template and had not taken that part out, they sent the edited proposal the next day for me to sign.
My full and final offer was accepted - 3 years in, dividend reduced from 32p/£ to 27p/£, no 'reason' for the F&F other than a generous offer from a third party. So although mine was not such a large drop your F&F dividend is still very good.
