www.iva.co.uk

Declined full and final, I am nearly 2 years into an IVA of 5 years which had repayments due of £7700 , I pay £137 a month and never missed a payment, however I suffer with PTSD and it has come back big time, due to this I need to retire, I am a 65 yrs old female, will get £100 private pension no lump sum and state pension next March, I offered £4000 being offered by family , member, variation meeting tomorrow but already had email saying rejected, is this normal, ? And what can I do, do not own property or car, ?

No it is not normal -- but, if the votes already cast make it a certainty they will sometimes pre-warn you. They should, in the meantime, earn some of their fees by trying to change minds, get non-voters to weigh in or seeking a counter offer ... maybe they say no to £4k, but would say yes to £5k.

With work stopping and no assets you could go bankrupt and they will, in the long run, get far less ---- your IP could well point that out to them.

How much are your actual debts ? Maybe, if you can get the figures right, a DRO would be worth looking at (similar to bankruptcy, but with no payments to make and all over in 12 months --- as well as costing £90 instead of £750 --- but you have to meet the criteria.

Hi thanks for advice, this is what I was emailed yesterday 10th with the variation meeting scheduled for today the 11th ??

Hello Linda,

Trust you are doing good.

I am writing to you to let you know that your creditors have rejected your meeting due to low offer.

Is it possible to you to increase the offer?

Many thanks

Regards

Hi after all that the meeting went ahead and my F&F was accepted and now paid all done thank goodness.

Excellent news --- well done.

Great news!