F&F offer

[DerbySaint]

Good evening all,

Just a quick question regarding a potential F&F offer.

My partner and I are having a baby in February - this has already had a big impact on my I&E with saving for baby bits and also learning to drive. Things are already getting extremely tight even before baby arriving

I currently have 18 months left on my IVA (paying £264 a month) and I received a letter from Varden Nuttall the other day showing that I owe £4,567. My partner has kindly offered to pay an amount (she hasnt got £4,567 to offer) to pay it off so that we can start fresh for when baby arrives.

I'm just wondering if anyone had any idea how much it would take to pay the IVA off?

Any help would be much appreciated.

Thanks,

Paul.

[kazzafunk]

Hi Paul,

It's always best to make an offer as close to the original dividend as possible.

I would say get your partner to offer X amount in writing stating this is only available as a full and final offer and the offer would be withdrawn if creditors do not accept.

Include a letter explaining the reasons why you wish a f&f offer to be considered. I think you do normally need strong reasons (health, redundancy etc) so all you can do is maybe list the change in your partners income once the baby arrives and anything else that may go in your favour.

Good luck with the f&f and the baby and let us know how things go.

[DerbySaint]

Thank you for replying Kazza.

The IVA is just in my name, my partner has nothing to do with it and is not included in any I&E that I provide.

Things are tight as they are even with her still in full-time work at the moment let alone when she goes on maternity from Christmas.

Do you think that the creditors would listen to my proposal now or should I wait until after Christmas / when baby actually arrives?

Thanks again,

Paul.

[MelanieGiles]

How much has your partner offered, and what will your disposable income reduce to when the baby arrives?