continued query

[dry debt rot]

hi all i have paid £13,400 into my iva its been going for 2 years at £555 a month with and equity release of £1125 (set amount)in the 4th year £33,000 in total to pay at 34p in the pound.All my debts have been sold off to 3rd party`s the report says the ip will charge £1100+vat per annum.My father has said he can lend me £15000 but this is the maximum and i will repay him monthly.In your opinion do you think i should offer the £15000 straight away or maybe lower amount then can go up?I am not sure how the ip will take it as he is going to lose 3yrs of money. And also can anyone help as to how i would write the email to my ip as i am hard of hearing and not very good over the phone.thankyou in advance

[Viki.W]

Hey dry debt rot, I can't answer your question, sorry, an expert will though so hang in there. Viki X

[MelanieGiles]

The IP will not refuse your offer just because he will lose out on fees. We are professional people and do not engage in that mindset. But his primary concern will be to make sure that this is the best offer which is available for creditors. You will have to justify to the IP why an early settlement is required - ie are you struggling to make the payments, or simply just wanting to settle early. If the latter, then you need to be offering at least the level of dividend originally pledged to creditors to be sure of a successful outcome.

It sounds as if most of the debts have been assigned to Max Recovery, who are looking very closely at all variation reports at the moment.