Reflecting F&F... Opinions: Andy/Melanie?

[dots]

Just been out for a drive and I am convinced the trouble I am having now is just the Idle running a little advanced and not the automatic gearbox troubled and the mechanic rubbing his hands... I will check it out properly as soon as I can... At the moment I am making preps for the big day tomorrow...

If I am right about all this and in the matter of the additional compensation for redundancy, just maybe I can offer an F&F... I am thinking that if one or two problems don't actually exist then this is my calculation

Original Unsecured Debt £86,400
Agreed payback 72 x £450 = £32,400 ... (Most have been sold off to third parties)

After making this month payment of £450
Will leave a balance of £11,700
Plus the arrears of £800
Total Outstanding will be £12,500

If I can scrape £2,500 from this inflow, then it will be bang on 20p in £

Actually, if I am allowed to pass on this months' payment of £450 on 19th, then that will make it about £3,000 F&F and increase the percentage to about 23p in £???

Is it really worth me calling my IP?

I have paid extra dividends from 50% of well over £5,000 in last 4 years

Gordon

If it is something you cannot see... contact your IP!

Try to develop the present to change the future that will enhance new memories of the past... It is not what we have done wrong, but what we are doing to our future from now on that counts... So... Count on the future by doing what we have not done wrong already

www.thedotdots.com
Outreaching World Concerns

[Adam Davies]

Hi Gordon
I can't see that being enough especially as you have a new job.However you have less than 24 months to go so hang in there
Regards

Andy Davie
IVA.co.uk Spokesperson

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

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

[dots]

Including if this month payment made it will be 46 done... 26 to go.

Gordon

If it is something you cannot see... contact your IP!

Try to develop the present to change the future that will enhance new memories of the past... It is not what we have done wrong, but what we are doing to our future from now on that counts... So... Count on the future by doing what we have not done wrong already

www.thedotdots.com
Outreaching World Concerns

[jpj]

Sounds low to me....You have come this far...just keep going!! )

[dots]

Bearing in mind that the redundancy & compensation cannot be claimed by IP, then maybe if I do not need to touch most of it (if lucky), in a few months, maybe it will go together with a little fortune if it passes my way and any interest it gains and make a stronger pIN£.

Alternatively, draw it out in lumps and put it into a secondary account if I can decide which bank to choose... I only wonder on that if the IP will question why I need to draw it off my account, as if some other alterior motive and then question what else I might be saving in an account he has no connection to?!?!?!

Gordon

If it is something you cannot see... contact your IP!

Try to develop the present to change the future that will enhance new memories of the past... It is not what we have done wrong, but what we are doing to our future from now on that counts... So... Count on the future by doing what we have not done wrong already

www.thedotdots.com
Outreaching World Concerns

[MelanieGiles]

Gordon

A full and final offer of settlement will not work if you are left with disposable income which could continue to be paid to creditors. I suggest that at the moment you concentrate efforts on the new job, before making any rash decisions about the future of the IVA.

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

[dots]

Thanks Melanie, I would not have any disposable income as I would be scraping out what I have coming in as compensation to pay F&F.

As my new job is slightly less pay, there will unlikely be any further 50% bonus payments either and may in fact have to consider a variation or a secondary income.

However, if I do not go F&F, then what compensation I have for redundancy remaining after clearing IVA arrears and loan from parents and car repairs etc, then the compensation will assist any monthly shortfall as a backup fund at the current 450 return level.

Gordon

If it is something you cannot see... contact your IP!

Try to develop the present to change the future that will enhance new memories of the past... It is not what we have done wrong, but what we are doing to our future from now on that counts... So... Count on the future by doing what we have not done wrong already

www.thedotdots.com
Outreaching World Concerns