First of all may I say what a great website this is.
I am 36 months into an IVA. Last month our first baby was born. I have been wanting to speak to someone at Blair Endersby regarding amending my monthly payments due to these change in circumstances but no one seems to speak to me about this.
I have spoke to my in-laws about my debts and they have offered me some money to settle the IVA. I was £43k in debt at the start of the agreement with 40.22p in the pound going to the creditors. Generally what is an acceptable - I know that may be too general an maybe I am seem naive but these are desperate times. How do I go about making this offer?
hello ojk welcome to the forum,well done reaching 3 years into your iva,regarding a full and final settlement,an offer near your remaining payments is a good place to start,if your disposable income as changed you need to contact your ip,your payments can be reduced ,or could request a payment holiday,do you have a equity release clause in the 4th year.if you post more details regarding your iva more help with come your way,congratulations on your first baby is it a boy or a girl.
Last edited by MRBLUESKY on Mon Jul 20, 2009 10:39 pm, edited 1 time in total.
I cant remember seeing anything about the equity release clause. I will review all the paperwork.
The baby was a boy. My wife and I are delighted! Will try the IP again tomorrow.
Will try the IP again tomorrow about the change in circumstances and filled out a revised expenditure form back in May but still not heard anything. I have tried several times as mentioned before but this hasn't got me anywhere.
I want to settle this asap!
Yes - congratulations from me as well on the arrival of the little chap. I bet he has turned your world upside down, but what a blessing children are!
You really do need to discuss this with your IP, as a settlement can only really be worked our when they know what funds you have available to you, and what funds you are going to be left with on a monthly basis now your family has expanded.
Why not try to arrange a telephone chat with your IP to see what may be possible to suit your changed circumstances. They are there to help you, and so let us know how you get on. If they are not responding to you, which unfortunately does seem to be a common complaint with this firm, there is a representative who posts on the forum as an expert - so a direct e-mail to them ought to do the trick.
congratulations nice one,are you a home owner ojk,a full and final settlement if accepted normally takes about 2 months,more details regarding payments would be helpful,of course your priority now is your son,so a reasonable offer to your creditors with your change of cicumstances,put forward by your ip would have a good chance,it is important you speak to your ip about this as they have to put your proposals through,let us know how you get on tomorrow.the near the offer to give your creditors the original dividend the more chance it as being accepted,i had a f&f offer accepted this month with a 2 pence in the £ reduction to creditors,with 18 month remaining on my iva.good look.
I am not a homeowner ronald, living with parents. I am in month 37 of the IVA with monthly payments of £400. I will speak to the IP to see if these payments can be reduced due to change in circumstances.
Does anyone know what allowance are made for babies - main expenditure is on clothers, milk and nappies?
If the monthly payments are decreased I will look at making a final settlement offer.
Congratulations from me too! now I am no expert on baby costs but I would work out what extra is resonably going to be required deduct it from the £400 giving you your new disposable income x that by the remaining months of the IVA & you will then have a figure to work with on a F&F, you maybe able to have an offer that is less than this? let us know how you go as this is maybe something I may think of further down the line.
I would also keep a note of all the contact you make with your IP and try to follow up your telephone calls with a written confirmation - an email should do.
Kind regards,
Angela Rosler
Insolvency Manager
Helping people with their debt problems for nearly 10 years.
Contact me directly for free, impartial, confidential help and guidance.
I am sure your IP will be sympathetic and you should always put down exactly what you spend - far better to have it trimmed back a bit rather than struggle if you don't put enough down.
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
hi ojk in your circumstances,if your inlaws could afford it, i think £5000 might do the trick,if that seems reasonable to you and your inlaws,have a word with your ip and see what he or she thinks.good luck.
I do find that with this company they take a long time to get back to you try e-mailing the following - info@blairendersby.co.uk & ip@blairendersby.co.uk as when i did i pretty much got a response straight away.
i woulk also send the offer in writing and keep a copy,there are sample letters on this forum and national debtline website ,make sure you are thorough about your details and that the offer is only available to conclude your iva if accepted etc,you are very lucky to have inlaws to help you,good luck.
