www.iva.co.uk

Hi. I’m in process of sorting out a lump sum for a full and final payment. Question is:

I’m offering 8k for an 10,500k remainder

If at the meeting they decline. And then I have the chance in giving another higher figure (parents may give more in time waiting for meeting, can I then offer a higher amount at that point or do I have to wait for a further meeting to re offer (are negotiate)

Traditionally, debtors have been able to come back with an improved offer (but some firms will frustrate this by not advising you of the meeting outcome in good time). However, you will only, in reality, have one more bite of the cherry as an offer is supposed to be the best you can make in the first place.

I can only hope that they get back to me quick then if problems or further variation, I realise is best offer have. But in time take for meeting my parents may offer more as time goes by especially if they decline my offer

It’s so hard to determine as seen on here so many times advice offer lowest have and room to increase

Offers are always a bit of a gamble --- as I keep saying, I have seen low offers accepted as well as high ones refused (one in excess of what the creditors would be getting in the long run !). Basically it is a business decision, but I am sure the weather and what the creditors have had for breakfast is a factor !!!

Best of luck with yours.