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Posted: Tue Aug 18, 2015 12:31 pm
by Spider8
When offering a f&f settlement figure do you include the IVA company fees or not?
From the IVA statement I get, I was only going to offer what the creditors are actually getting from my monthly payments & deduct the admin fees to the IVA company.
Any suggestions on f&f?
Posted: Tue Aug 18, 2015 12:36 pm
by Michael Peoples
The IP will still be entitled to a fee from the money so this will only reduce the qamount available for creditors and increase the chance of rejection. If you are offering a full and final the nearer you get to the original offer the better unless you have suffered a fall in income and creditors would not receive that amount anyway.
Posted: Tue Aug 18, 2015 12:44 pm
by Foggy
The starting point should be the number of payments left multiplied by the monthly amount ( plus 12 payments if equity is to be addressed). You can round down a little to reflect savings in admin costs -- but get too low and you risk rejection.
Posted: Wed Aug 19, 2015 10:57 am
by Lisa Thomas
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Foggy
The starting point should be the number of payments left multiplied by the monthly amount ( plus 12 payments if equity is to be addressed). You can round down a little to reflect savings in admin costs -- but get too low and you risk rejection.
What he said
Posted: Wed Aug 19, 2015 11:02 am
by lifenoteasy
People are entitled to be paid for the work they do.