www.iva.co.uk

Hi everyone,

I had a frank conversation with my father today around my debt position and he has very kindly agreed to give me a lump sum to make a full and final offer.

The issue is he has offered me £7000 and currently I owe £10,000 what are my chances of getting this accepted? I would be happy to continue paying whilst this is sorted out which is £307 a month (so total owed might be down to £9300)

Advice welcome and if anyone has a template letter for me to use I would appreciate it

You will be saving them two and a half years of admin costs and messing about with small dividends, so there is scope to round down from the amount they are expecting over the term. £7 k might be a little light --- I would have gone in at at least 8 --- but, I have seen low offers accepted before now. If they refuse you can carry on paying and try again in a few months time, once the total they are expecting has been whittled away. Worth a chat with your IP.

Short template here: https://www.iva.co.uk/letter6-f-and-f-offer-during-iva