After 15 months on IVA, I have an F&F question

[simpson1]

Thank you.

Could the F&F amount be provided by 2 separate family members. Say, half from a grandparent and half from a sibling?

[kallis3]

I believe it can - both parties will have to provide proof of where the money is coming from (money laundering regs) and don't forget to stipulate that is only available for a full and final and will be withdrawn if not agreed.

[simpson1]

Thank you. I’ve found the handy template on here so will add that extra line in too

[Mark24]

A F&F offer is usually based on remaining payments, so, in your case £172 x 45, assuming you are not a homeowner (If you were a homeowner you would need to factor in an extra 12 months payments in lieu of equity release).

So an offer based on £7740. Often these offers can be reduced slightly, to allow for time saved, administration time, effort and costs saved and the 'bird in the hand' factor. So, maybe an offer of £7k would do the trick, but, obviously, the higher the better.

I have seen low offers accepted, but also high ones refused.

Thank you very much Foggy, I have great news and I am so very happy to tell you right now that my creditors has accepted the offer, and I should receive my IVA certificate of completion in the next three weeks.

Thank you very much for your advise its so valuable, I just want people to know here that you guys know what you are talking about and this forum has a lot of valuable information to help you complete your IVA if you have a friend or family who are able to help you out.

All the love
Mark.

[Foggy]

Great news, Mark, and thank you for your kind words

[kallis3]

Excellent news - well done.