Hi everyone, just thought I would run this past you. I have spoken to my Dad and he has offered to give me some money for a full and final offer on my IVA. I have found living on an IVA very difficult. The firm are not flexible and refuse to take some expenditure into account and due to this I have no life and feeling very down and depressed. So when my Dad offered to help I was over the moon. I have been in the IVA for just over a year. I was origionally paying £333 a month but have paid more due to a payrise. So I was supposed to pay around £19,000 over the 5 years. I have paid so far around £6000. My offer will be for £10,000. Do you think this would be a good offer? The guy who looks after me at the office says its worthwhile putting forward. I am concerned because I don't have a reason for not going on with the IVA other than I want out as this year has been awful.
sorry to hijack this thread, but, i just have a general question regarding f+f.
not that i am in a position to offer one, you have more chance of nailing jelly to a tree.
back to my question,if you have the equity release clause in your iva, how is the f+f offer calculated?,
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
Hi
If you could offer your creditors a sum equivelent to the figure that they would have received, had you released any availabe equity, then a full and final may be accepted. However if your circumstances have changed,and you will be unable to release any equity, then they may accept an offer that is only equal to the dividends that they would receive via monthly payments
Regards
Thanks Andy
How would i know if i could release any equity without going through the remortgage process?
Aucto Splendore Resurgo.
IVA accepted May 2007.
Extended by 12 months in lieu of equity March 2012.
F+F offer accepted May 2012.
C of C received August 2012.
IVA dropped off credit file 24th May 2013.
hi olympic torch i think you would have more chance of nailing a jelly that has been out in the sun all day to a tree,than getting a remortgage while being in a iva these days.[:)]
Last edited by MRBLUESKY on Sat Aug 08, 2009 3:18 pm, edited 1 time in total.
A qualified mortgage broker is best placed to confirm that point OT, - why not give Tony Parsons who posts as Welshboy on the forum a ring. He used to play football for Cardiff City - so Mrs Torch is bound to be a fan!!
It is possible to get a remortgage, but you will find that it costs!
I agree with Mel that you need to get advice from Tony. He is highly regarded on here.
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
