Advice on F&F

[Luke13]

Hi everyone,

I have submitted a full and final offer on my creditfix IVA and the meeting is due to take place on the 12/02/21

On my creditfix app it says I have paid £5016 out of £9120 and have submitted an offer of £4500

I have around 2 years left I believe and currently pay £152 per month.

Should any further detail be submitted for my offer? For example I have recently lost my job and all this I feel is affecting my mental health.

The funds which I have sent proof of are coming from my mother.

I’d love to hear thoughts on if I should add detail to my offer etc and whether the amount is a fair amount.

Also does anyone know if all the creditors have to vote for the variation or just majority?

Many thanks in advance

[luluj]

I think your offer is a fair one. A full and final offer is voted on the same way as the original iva.

If I was you I would put a statement together outlining the change in circumstances and the impact on your health and wellbeing.

Make it clear that should the offer not be accepted, the money from your mum will not be available to you for any other purpose.

Good luck and let us know how you get on

[Foggy]

I agree with Luluj --- health and well being are an important aspect of life and should be preserved. Creditors are not ogres and will take that into the equation and. of course, job loss is a major impact on your finances overall. This would all help to convince them that the bird in the hand is better than two in the bush.

[Luke13]

Ok thanks for your advice, much appreciated.

I will keep you posted

[Lauren365]

Hello,

Please can you keep me up to date on this? I have just done the same and my meeting is on the 26th February.

I pay £214 a month and have 50 months remaining = £10,700.

I have offered £11,000.

Hoping they accept!

[Luke13]

Hi guys,

Just a quick update, my f&f meeting was on the 12th and was accepted ... which is amazing ... I received confirmation and paid the balance today and it has now moved to the closure department.

Just a little info for anyone thinking about this... my Iva is with creditfix and they were very helpful on what amount to offer and also told me that if they (creditfix) agree to put the offer forward then it has a very high chance of being accepted... I had around £4100 left in payments and offered £4500 which covers the £300 meeting fee.

I will update on how long this takes.

Thank you everyone for your advice and good luck to anyone heading down the same path.

[Foggy]

Well done Luke. Great that it is all sorted.

Onward and Upward.

[Lauren365]

That's amazing Luke, I have done the same I owe £10,750 on my agreement and offered £11,000 so I am praying it's accepted on the 26th! Say a prayer for me !