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Posted: Mon Jun 15, 2009 10:32 am
by Helpme27
Hi
Please could somebody help me out with a question.
How far into an IVA can you offer a full and final settlement.
Thanks for your help![:)]
Posted: Mon Jun 15, 2009 10:42 am
by Michael Peoples
There is no minimum timeframe unless it was inserted by creditors at the meeting. Talk to your IP and explain why and how you wish to settle and they can advise if they believe it would be acceptable.
Posted: Mon Jun 15, 2009 10:51 am
by MelanieGiles
If the offer is a good one, there should be no reason why it could not be put forward to creditors at any time.
Posted: Mon Jun 15, 2009 10:53 am
by futureisgood
I made a full and final offer after just one monthly payment - the original return to investors was to have been 18.5p/£ and the full and final offer was 14.5p/£.
Only three of my creditors voted on the F&F (the smaller creditors) and all three accepted so it was passed. I settled and thankfully my IVA is now over.
Hope this helps.