I personally wouldn't post it on here where payplan can obviously see exactly what is what!! You perhaps should have put forward an offer of 11k without discussing it any more!! By stating on a public forum that yr uncle is willing to offer u 25k is bound to make tongues wag at payplan who work closely with the creditors!!!!
I doubt that really matters Nutkin. Whatever the hypothetical whys and werefores discussed on here, the uncle is free to ( and has) withdraw the offer of a gift if he sees it going to creditors. In the given circumstances -- no gift to Mitch and, now, no lump sum to the creditors either -- so the staus quo remains and the creditors, effectively, lose.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Y do the creditors lose? Sorry I don't understand! All I'm saying is be careful what you put out on a public forum! If 25k was paid in it would not be 'going down the drain' but paying off debts! I am not saying that should happen but just keep quiet offer 11k and move on if accepted!!
As for going down the drain -- that is in the view of the uncle who was to gift the money. He wanted to give his relative a gift .. not pay the creditors, so, from his point of view the money would be wasted .. so he is no longer giving it.
In this instance the creditors lose by virtue of not getting a decent lump sum of the whole promised dividend now (bird in the hand is worth two in the bush), but will get it in dribs and drabs over the next few years --- if they don't sell on the debt for pennies in the meantime.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It is your uncle's money and not yours. Therefore your IP cannot grab it, and personally I would persist on insisting that they offer a lump sum based on the number of contributions you have left to pay. If your payments are only £200 per month, and you are already some way into the IVA, then I cannot see why an offer based on £200 times the number of payments you have left should not be put forward. Dig in an insist, as surely there has to be some benefit in getting the IVA concluded earlier - including your creditors.
