My rough estimate between £8,000 and £8,500. Your IP should be able to advise you though!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
The length of time it takes depends on when the IP can convene a creditors meeting. I've read of some on here taking about 4 weeks.
Make sure you inform your IP that the money is only available if they will accept your offer.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
thanks jan at the moment shes thinking about it but its a lot of money do you just ring your ip or do you put it in writing and what sort of paperwork would they need??[:I]
If your sister decides to do this, I would phone your IP and tell them you have the offer of this money and you want to put it forward. See what they say.
Don't know if you would have to put it in writing though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
If that is the most she can raise, I think that it ought to be considered favourably by your creditors, who at the end of the day get the money a lot earlier.
Its a lot of money she knew nothing about our iva til recently,we really need to try to get it paid somehow as my husband is due to be moved at work requiring a lot of travel no car so its the bus which adds up and then our tax credits are due to go down in june due to our soon leaving full time education with no job as of yet we;re goin to be struggling[:I]
how do you work out what you would need to offer for a f+f ? we have about 19 months left to go . we pay £539 a month. they want all equity but our mortgage to property value is about 85% ltv dont think we would get much on a remortage. just intrested to know how you come up with the figures for offers
i just lost my family allow for my son who left home , and lost his csa payments from ex . youngest starts school this year , will loose tax credits. will be glad when all ours is over.
good luck thanna , hope urs all gets sorted
