Page 1 of 1
Posted: Sun Sep 20, 2009 5:23 pm
by rockstarloz
Hi everyone,
I have just had the paperwork for my full and final. I was paying 68.7p in the £ and has gone down with the full and finl settlement to 49.8p. This seems like such a big drop. I just wondered if anyone had any experience of being accepted with such a drop.
Posted: Sun Sep 20, 2009 5:29 pm
by Lisa2009
When you actually work out on paper how much each creditor will still walk away with in comparisum, it doesnt look that harsh.
Good luck with it, its still a good offer compared to some that have been accepted.
Posted: Sun Sep 20, 2009 5:48 pm
by Skippy
Good luck, let us know how you get on x
Posted: Sun Sep 20, 2009 6:01 pm
by kallis3
Nice to see you again - let us know how you get on.
Posted: Sun Sep 20, 2009 6:03 pm
by MelanieGiles
If there are good reasons for the variation then it ought to be accepted - regardless of the reduction in dividend payment.
Posted: Sun Sep 20, 2009 6:35 pm
by rockstarloz
Yeah thats the thing Melanie, the only reason is my Dad has offered me the money. What happens if they say no, it seems to refer in the paper work that if creditors dont accept I will go bankrupt!
Posted: Sun Sep 20, 2009 6:54 pm
by MelanieGiles
I am sure they won't be turning down what looks like a rather good offer to me!
Posted: Sun Sep 20, 2009 8:06 pm
by MRBLUESKY
hi rockstar 49.8p is well above the average dividend associated with iva,s.my final offer was accepted at 30p,and there are many members who have had there offers accepted with a lot lower dividends,everybodies circumstances are different,but with a high divi still offered to your creditors i think and hope you will be debt free by xmas,if your ip has proposed your offer to your creditors on your behalf i think your chances of approval are %90 plus good luck.
Posted: Sun Sep 20, 2009 8:35 pm
by rockstarloz
awww thanks guys
Posted: Sun Sep 20, 2009 8:46 pm
by MRBLUESKY
anytime happy xmas,x.
Posted: Sun Sep 20, 2009 8:49 pm
by kallis3
I think you will be fine.
Posted: Sun Sep 20, 2009 9:25 pm
by Debtwitch
Still a good dividend.
Good luck!
Posted: Sun Sep 20, 2009 9:43 pm
by comps78
rockstarloz wrote:
What happens if they say no, it seems to refer in the paper work that if creditors dont accept I will go bankrupt!
I would query that with your IP, when I first received my full and final proposal it made reference to bankruptcy. I rang to query this and it seems they use a template and had not taken that part out, they sent the edited proposal the next day for me to sign.
My full and final offer was accepted - 3 years in, dividend reduced from 32p/£ to 27p/£, no 'reason' for the F&F other than a generous offer from a third party. So although mine was not such a large drop your F&F dividend is still very good.