Fri Oct 22, 2021 9:34 amFoggy wrote:
A few quid here and there is of no import to most IPs / Creditors and a full and final offer, although based on remaining payments is often a reduced amount, reflecting the consumers ability to raise a given amount and the fact that there will be a saving to both IP and creditors in administration costs over the 4 years you are saving them.
Thanks, I’m just worried if I offer the £4410 they will reject it
I think you will probably be ok. Make sure to tell them that the money is only available for the full and final and will be withdrawn if not accepted.
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
Fri Oct 22, 2021 10:21 amkallis3 wrote:
I think you will probably be ok. Make sure to tell them that the money is only available for the full and final and will be withdrawn if not accepted.
Thank you, from StepChange’s email I feel like they are leaving it a bit open? They aren’t really advising the amount I should pay… I did send the email back saying 3rd party will pay £4590 if this is the best?
Try the original amount - you can always up it if they refuse.
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
I realised I got my payments mixed up so in order to fully pay off the IVA to date (after my 1st November instalment) it is actually £4500 in which 3rd party is still willing to offer so I’ve decided to go forward with StepChange with this offer as it’s 100% im quite sure it’ll be accepted.
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
Thanks everyone, still got a lot of things to do like identity checks on 3rd party, proof of the money etc so I’m sure this will all be a while yet but still amazing to get the ball rolling to a debt free future.
I’ve been on another forum (Money saving expert) I use both forums and someone has said that my offer will be declined because they would want the full amount owing paid back so for me the full £5400…
I’m feeling very trapped, I know I shouldn’t be upset because I’m asking for a lot and that nothing is 100% but I really feel like I had some hope with this gifted lump sum.
Surely StepChange wouldn’t put forward my offer if they don’t feel it’s worth the time?
Don't panic! Stepchange would not put this offer forward if they didn't think it would be accepted. Put your best offer forward and try not to worry.
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
The majority of full and final offers put forward are accepted, but it does depend on your creditor make up and who bothers to vote on the day. I have seen very high offers refused as well as many, many, lower offers accepted.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
3rd party (my mother) has received the email from StepChange, I’m confused on some items on the email.
I will be helping my mother to complete these steps as she isn’t very literate and know how to use technology well. We will be together when completing these documents of course because it needs signatures etc.
It asks for reasons to why she wants to pay off my IVA. I gave my person reason to StepChange already basically my tenancy has a clause in it about insolvency and bankruptcy so I’m very wary and worried that my tenancy could be ended at any moment if they found out and basically I don’t want this IVA to hinder me anymore for my future ie moving flats etc in the near future. My mothers funds are from savings and they said they need 3 Months worth of bank statements. Should this be current account statements or the savings statements as money is transferred from current account to savings of course.
Your mother's reasons for giving this money can be as simple as love and support and her wish to help her child.
As for statements I would assume they want savings account statements showing the accumulation of the funds to be used --- in a nutshell they wish to ascertain that the money is from hard earned savings rather than a lump sum of cash 'appearing' overnight from, possibly, dubious sources.
The advice to use a solicitor is them covering their backs --- if you later complain about something they have done they can turn around and say "Well, we did suggest they take professional advice" --- it is common practice demonstrating their due diligence (as even I have done in my little note at the end of each post ! ) .
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As this is all going through do I still keep making payments to my IVA?
I know they still have to await the information back from my mother which won’t be until the weekend and then they need to arrange the meeting etc.
I know this will take time.
