You should normally try and offer as close to your original dividend as possible. You need to tell the IP that the money is only available for the full and final.
Is there a particular reason you are offering this such as redundancy or illness?
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
What are the chances of you getting another job once you are made redundant?
What usually happens is that you are allowed to keep up to six months worth of money to fund your normal finances until you get another job and then anything left would be paid across to the IVA.
You can ask them to accept this money as a full and final but you need to have a chat with your IP.
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 have been working as a school caretaker for the last 13 years , but have been given my reduancy notice to finish on 31st August, I am a bricklayer by trade and I intend to go self employed from September.
Hopefully one of the experts will be on later to assist but I would recommend running it past your IP.
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 Fozzy - all you can do is offer what you can and see what your IP says - sometimes creditors will accept less than the original dividend but it depends on each indivudual case.
Let us know how you get on.
Regards,
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
