www.iva.co.uk

Hi all - I often read the forum but rarely post. sorry! However, I would like to ask a question about a full and final offer. The charity I work for has been hit quite hard by the cuts to local authorities and it is increasingly likely that redundancy proceedings will start against me shortly. I am looking for other work obviously, but there seems to be a lot more people applying for fewer jobs! I have approximately 18 months left of my IVA (which I am up to date with) which is £12,762.00 My property is worth about £132,000, with a mortgage outstanding of £128,000.

A family member has offered me £12,000 to put forward as a full and final offer. Does this seem realistic? Also, will the creditors contact my employer to confirm redundancy (btw - as I have been there less than 2 years I am not entitled to any redundancy pay)? I can provide the letters if it comes to this, but would rather not have anyone at work know about the IVA.

Thanks for any advice!

Hi, nice to see you back.

Personally speaking, I think that sounds like a good offer. I don't think the creditors will contact your employers at all.

Speak to your IP and see what they say.

thezapping - welcome.

Main thing is keep your IP/IVA in the loop about your circumstances.

Talk it through with them - but made it clear where the money is coming from and that it is ONLY availible for F+F settlement.

At the end of the day - if you are made redundant without any redundancy pay - you will not be able to keep up any agreed payments.

Best of Luck

I would make the offer - it sounds a good one to me.