I’m currently ten months into my IVA, I pay £153 a month this is my second IVA my last one failed after two years . My dad is willing to put a full and final offer in for me. The total payments left on the IVA is £7650 my dad says he is willing to offer £6500 as a final offer how likely is this to be accepted considering I have already failed one IVA and also I need to
Leave the army as I’m going to be having my daughter full time so my salary will reduce dramatically once I leave . Is this a good offer or not ?
You could always try a lower offer initially but make sure your IP knows the money is only available for a full and final and will not be available if not accepted.
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
In view of the savings they will be making in administration costs over the rest of the term and the potential change in circumstances it looks like a good offer to me.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Just be careful if you are with Payplan - based on a recent post they seem to have a unique way of dealing with these types of offers and do not conform to timescales that may be in your agreement.
I agree - and especially with your income reducing, there is a fair chance that your IVA will fail again once the drop in income hits. Again, it makes a full & final offer all the more attractive to creditors.
