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Posted: Fri Jul 17, 2015 2:39 pm
by dipsy
Hi
I am just entering my fourth year of my IVA and it is possible that I may be given some money to pay off my IVA. I have 24 payments left to make at £290 per month. What would be a reasonable offer to make for a full and final settlement please?
Posted: Fri Jul 17, 2015 2:46 pm
by lifenoteasy
So longer as there is no equity in a property involved try 19 months payments. It is likely to take a few months to sort out.
Posted: Fri Jul 17, 2015 4:35 pm
by dipsy
Thank you lifenoteasy
Posted: Fri Jul 17, 2015 5:10 pm
by Foggy
I agree -- the creditors and IP will be saving money on administration costs, so everyone benefits.
Posted: Fri Aug 14, 2015 9:30 am
by dipsy
Hi All
I have received a letter from my IP saying that I have to have a letter from my friend saying that the money is available for my use and also proof that the money is available. Rightly so, my friend is unwilling to disclose their financial position to anyone so this leaves me in a tricky position.
If my friend puts the money in my partner's account (he is not included in my IVA but his income is taken into account) would he be able to offer the F&F on my behalf? Also, if the F&F is approved, do the funds come from my account or from my friend/partner's account? All advise is welcome. Thank you.
Posted: Fri Aug 14, 2015 10:20 am
by Michael Peoples
What you are suggesting seems fine and explain it to your IP as you have done in the post. This should be more than acceptable.
Posted: Fri Aug 14, 2015 10:42 am
by dipsy
Thank you Michael. Will do.
Posted: Fri Aug 14, 2015 11:00 am
by Lisa Thomas
£6 - £6.5k would be reasonable in my opinion. Don't forget it will take a few months to call the meeting etc by which time you will have made a few more payments. Good luck.
Posted: Fri Aug 14, 2015 11:45 am
by dipsy
Thank you Lisa
Posted: Fri Aug 14, 2015 12:49 pm
by Lisa Thomas
You're welcome - let us know how you get on?
Posted: Fri Aug 14, 2015 1:10 pm
by dipsy
Will do!