Full & Final settlement - is it enough

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dicanio3

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Post by dicanio3 » Mon Jun 07, 2010 2:55 pm
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My first post, so I hope I'm giving you all the neccessary information.

Have been in a IVA since December 2008, myself and my wife. Total debt £53,743. Accepted dividend 29.88p in the £.

My parents have a policy maturing in September and have offered to give us £15,000 to make a F&F settelment (£5k a gift and £10k a loan).

In September we will have 38 payments left (£18151).

Is this likely to be a sufficient offer?
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Tina Shortland

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Post by Tina Shortland » Mon Jun 07, 2010 4:20 pm
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Hi Dicanio3 and welcome to the forum.

It sounds like it should be a reasonable offer but only your own IP can advise you on that as they will have full knowledge of your case, and only then is it finally the creditors' decision as to whether they accept it or not.

Definitely sounds worth speaking to your IP about asap.

Best wishes and hope you get the outcome you want.

Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.

If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com

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Adam Davies

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Post by Adam Davies » Mon Jun 07, 2010 4:23 pm
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Hi
Sounds a very good offer
Regards
Andam Davies
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Lisa2009

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Post by Lisa2009 » Mon Jun 07, 2010 6:37 pm
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Hi, its a good offer but do make sure you state that the money will ONLY be available to you if the offer is accepted.
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


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MelanieGiles

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Post by MelanieGiles » Tue Jun 08, 2010 12:48 am
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If you continue to make payments until the creditors meeting it will be even better - because you will not have so much of gap between what you promised to pay and what you are offering.
Regards, Melanie Giles, Insolvency Practitioner
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Shining

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Post by Shining » Tue Jun 08, 2010 7:50 am
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All the best with your F&F offer x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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