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Posted: Sat Nov 14, 2015 10:53 am
by Ruma.76
I'm with iva last 5 year's. I offered them for settlement. I have 16 payment left. My monthly payments is �300 . I offer them �7000 but they not except
Posted: Sat Nov 14, 2015 11:08 am
by kallis3
Hi and welcome,
Which company are you with? Have they actually put an offer forward to your creditors?
Posted: Sat Nov 14, 2015 11:13 am
by lifenoteasy
Does sound a little weird to reject it.
Posted: Mon Nov 16, 2015 8:58 am
by Michael Peoples
The amount offered seems generous but then there may be other reasons. Is HMRC a creditor or did you promise equity from your house to the IVA?
Posted: Mon Nov 16, 2015 11:49 am
by NTF Financial Solutions
Without a lot more information it is impossible to provide any form of opinion on this matter. In our experience creditors are getting a lot more strict in accepting FFS when they are entitled to the funds anyway and normal payments can still be made.
Without knowing where the £7000 was coming from and the full I&E details it is unclear whether the offer was the best that could be made.
Posted: Mon Nov 16, 2015 3:16 pm
by lifenoteasy
Potential equity in a property plus shift towards secured loan towards the end can prove a factor.