www.iva.co.uk

Hi everyone - just a question about a F&F
I've been in my iva for as good as 3 years with 3 more to go, and that's not a good felling.
I'm not going to lie but it's really taking its toll now and would love to be able to make a F&F for no other reason than to end what feels like a prison sentence. It does feel like big brother is watching when I go shopping!
Basically I'm thinking of approaching my brother who has always known about the iva and asking him to help me make an offer. I know to say the money is only available if the offer is accepted. He may say no then game over but he may say yes.
My issue is our reasons for making the offer as I'm sure just because you want out is not reason enough.
Any advise anyone?? Thanks guys

Hi --- as long as your offer is close to what the creditors were expecting in any case (remaining payments x current payment) they will definitely consider it ---- after all, they are also getting a bonus too -- money now, rather than dribs and drabs and more toxic debt off their books.

Thanks Foggy,

I thought the same. We pay £380 a month so thinking a 13k offer.
My concern is they will say no as I have no valid reason to make an offer, other than wanting out.

We're also with GT - how cooperative are they when it comes to this.... Do you / Anyone know?

I really don't want to ask my brother unless I feel sure this has a good chance of agreement.

I am also with GT and I have just had an offer of payments made to date accepted (couldn't continue due to my marriage break up) and all I can say is that they were fantastic -- very helpful and very supportive.

Give Karol an email and have a word with her -- I am sure they will listen.

Again Foggy -TY for your advice!

Think I might drop Karol an email, don't know why I didn't think of that.

However all the same (sorry to hear your marriage broke down) but you had - have a reason for the creditors to accept what you've paid so far ... For us surely they "may" think let's take a chance and keep making the monthly payments !!!

Sorry I worry about everything now when it comes to money.

Yes, Biscuits, they could think that -- they could easily also think let's take the money while we can -- the IVA might fail next month / year / whenever .... a bird in the hand .....

[:)] TY Foggy !! Maybe I'll just say that in my proposal because that's true words ... TY x

Wanting out of the IVA is a perfectly good reason for submitting an offer of full and final settlement using third party monies - and creditors will love you for it as they get their money a whole lot earlier!

Wow I didn't know that Mel.. TY [:)]

I've no idea why I thought they'd say no just to be out of it, was sure I'd read it on here somewhere.

Ok in for a penny I'll go cap in hand to my brother (upon return of his holiday so should be in a good mood)

Good luck with that, and do let us know how it all pans out for you in due course.

Will do Mel, and TY for your advise.
Lots of hurdles to face now almost feels like we're starting the whole iva process again!
Well one step at a time ... First to Convince my now "favourite" brother to bale us out. [:D]
Think I might need a lot of luck in the next few weeks.

Well we fell at the first one - my bother said no.
Oh well. [|)]

I just wondered if your brother said no due to the amount you asked for.
Only because I did the same thing, asked my iva co how much they thought would be accepted in a f n f and they estimated about 8k for each my OH and I.
I decided to offer them 2,500 for each of us and they proposed it to our creditors and it has just been accepted. A relative paid the 5k for us. Our mortgage had gone back onto repayment after 2yrs, so our iva would have failed due to the extra outgoing. Don't lose heart, maybe try a much lower offer.

Thanks littlemom - maybe but to be honest it was hard enough asking in the first place, so I couldn't go back begging again for less.

I had real hope at one point and they've been dashed and it was a hard pill to swallow. Really don't want to feel that way again.

I've excepted I have to follow the journey to the end now. c'est la vie

Just think how satisfied you will feel when you have made that final payment? And knowing that you did it all by yourself as well! You are passed the 1/2 way mark, keep on ticking off those little mile stones to break it up a bit and it'll be over in no time.
All the best for the future x