Good afternoon, i posted the other day re some advice for full and final settlement. I have just spoken to DFD they were very helpfull, however i am still a little unsure.
Total was 17940.00
made 25 payments £299.00 per month
have 35 left
i also pay a substantial amount of my overtime in above this each month around a 100 pounds
DFD said there is ten thousand left, but they could not advise me what offer to make. so sorry to mither everyone again, but is there anyone that could offer me advice on what to offer please?
Speaking from personal experience I made the best offer I could, which in my circumstances was only a few hundred short of what the creditors would have got had I carried on with payments for the next 3 years. You say you have 35 x £299 left which is £10465. I would say the closer you can get to this figure the more chance there is of acceptance.
Obviously if your income is under threat you may be able to negotiate a lower amount as your creditors will be happy to get something rather than nothing.
The truth is there is no right or wrong answer as everyones circumstances are different.
Not sure if this was helpful or not...I may have just been rambling
Sorry!!
x
as greeneyes said try and offer somewhere near the forcast divdend you have left and also ask your ip if they will give you a little discount on there fees as this will end sooner and they will also be getting there slice a bit earlier.
my wife did this and we prob saved £700 overall.
your ip will have to put forward your best offer if you request them to and they can only advise if they think the figure is in the right area.
good luck
cc received 6th January 2014 now upwards and onwards
If you live in England or Wales and make an offer of a lesser sum than the full debt and even if they accept your offer, the creditors may still come after you for the balance since every promise has to be supported by consideration.
Fiacham, Once agreed creditors cant come after you for more money. An IVA is a legally binding doccument. If a F&F is accepted then paid then thats the end of the IVA.
POSITIVE dont worry about what that plank has said.
this is all done through your ip and the courts.
when the creditors accept through a variation meeting its done and dusted and you will get a compleation certificate to prove it.DEBT FREE
there has been a few people signing up here latley scare mongering and you can take it from me whos has done it that theres nothing to be worried about.
cc received 6th January 2014 now upwards and onwards
