now I am pregnant offering a lump sum payment

[Lisa2009]

I'm sure as the experts have said, your offer would be successful. Afterall, nobody would want to see you bankrupt this far in.
You have nothing to lose by suggesting it. If its refused just plod on as best you can or ask for a reduction in payments and if its agreed, CELEBRATE.
The chances are, you would be entitled to some tax credits when the baby comes so the extra income there could help.
I'm pretty sure you would be hitting the champagne (with orange juice of course) before you hit the bankruptcy court.

mrs skint

[isis96]

Hi

Thanks for all your advice I have just made a call to payplan and they were really nice , i have offered £5,000 as an early settlement and will keep paying my payments till April which will make another £1180, the amount outstanding is £8,000, she said they may accept this, i need to write a letter from me and my mum stating the facts etc, any ideas or does anyone know of any draft letters i could copy from I am rubbish putting pen to paper, also what do you think about my offer.

Thank you all once again for replying to my messages this is a great help.

[Adam Davies]

Hi
Dear Sir/Madam
Further to out telephone conversation I would like to formally offer a lump sum payment of 5k as a full and final settlement of my current IVA.
I am expecting my first child in August 2008 and this will mean that I will be unable to maintain my current IVA payments due to loss of income.
As agreed I will continue to make my monthly payment until April and then offer the lump sum and conclude my IVA.
The lump sum of 5k is coming from my mother on the understanding that it is only available if used to conclude my IVA and any disposible income that I have after April 08 will be used to repay my mother.
Would you please arrange a variation meeting and put this offer to my creditors.
yours sincerely

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[Martin2011]

That certainly ought to work, well drafted Andy and very best of luck Isis... let us know how it goes...

Martin

[cr15py]

Just want to add my best wishes to this, and congratulations on your pregnancy. [:)]

[isis96]

Andy.

Your a star, xx this forum is fantastic and a god send, keep up the good work, fingers crossed I have just spoken to them again and they won't say if this is a good offer or not. Apparently they want 29p to every £1 owed, I owed £41,000 and have paid since November 2004 and not missed any payments, do you think this offer is a good one? Bearing in mind if not i will haveto go bankrupt.

Thank you thankyou thankyou

Debs xx

Lets hope its a Happy New Year.

[Adam Davies]

Hi
It's a very good offer and I would be very surprised if it was not accepted.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Good letter Andy - and it struck me that we could have a letters section on the forum to cover things like this which people could download - such as requests for reduced payments, confirmation of equity, offers of full and final settlement.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[isis96]

Hi All

Well letter is posted , I spoke to Payplan again last night as i needed to take into consideration i will also have to pay off my car before august which has a balance of £2000, i know i should just let them take the car and concentrate on paying my debts, but i do need the car so I have offered £3,500 plus i will carry on making payments until may 2008 at £295 per month, then i can at least start paying my mum some back before the baby is born.

Anyway fingers crossed they will accept this i have nothing to lose by trying.

I will post the letters today and let keep you updated of the outcome, many thanks for all the advice and support on this hopefully i can go on and help others too.

Best Wishes for 2008

Debs x

P.s Thanks Andy for the quick reply re drafting the letters. If this works i owe you a drink.

[Lisa2009]

Best of luck, i hope your offer is accepted.

mrs skint

[isis96]

Hi Melanie

I think that would be a great idea about the letters as I did a search on the internet and could find nothing I am sure i am not the only one looking for draft letters with the correct wording.

This site is fantastic and tells the truth.

Debs

[Adam Davies]

Hi
Yes i will put my letter onto the "IVA documents page"[left hand side]
Please post any other letter templates that can be used.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[isis96]

I have sent the letters, what happens now will they contact me or should i chase to see that they have received them, how long do you think this process will take ??

[Adam Davies]

Hi
There is no problem with checking that the letter has been received.
Variation meetings will not be top of the IPs file,so a gentle prod in say a couple of weeks you have not received the draft variation proposal
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[isis96]

Had my offer back from Paypaln , signed and sent it back fingers crossed they will accept my full and final offer.

Although i have just read about the charge for a creditors meeting payplan didn't mention anything to me when i called. ??