could I end my IVA early and pay less?

[lulu27]

I have been approached by Jefferson Hobbs who say I could end my IVA early and pay less. Is this likely to be true is it possible creditors will take less money now rather than wait until the end?

[MelanieGiles]

Hi lulu27

The only person who can give you proper advice on this is your IP directly, so I would personally disregard this unsolicited mailshot.

Why would you want to pay your creditors less than you originally agreed to?

[bigpete]

Melanie: "Why would you want to pay your creditors less than you originally agreed to?"

I thought that in a F & F the creditors would get less anyway?

[MelanieGiles]

What makes you thing that Pete? Most full and final settlements offer at least the pledged dividend, unless there are circumstances which would prevent this.

[bigpete]

I was under the impression that if it was closed earlier with a F & F the IP's fees would be reduced, additionally I noticed on here 5th March elk still had = £11395, and it was suggested £10,000 would be realistic..?

[MelanieGiles]

The poster was asking if creditors would take less money! If fees are to be reduced this does not affect the creditors pocket, but it certainly will affect the IP's. My point is that creditors should not be affected by someone's desire to end an arrangement early - which is generally being encouraged by the originators of these letters.

[bigpete]

Fair enough - re; letters I even had one up here in Scotland (Trust Deed Country) telling me my Trustee was no good and I should contact this particular chap and get my TD finished early.. Told him no uncertain terms to take a hike.

[TheMatrix]

Had their letter, another example of them targeting the insolvency register and not checking against the opt out on the mailing preference services.

When I called them they were rather arrogant, and their solution was to re-mortgage, yeah right, I don't have a mortgage. The option then would be to go BR. But do not want to do that either.

[debbiw]

I would just file these letters in the bin !

[TheMatrix]

Yeah seems a big waste of trees to me though, having to shred this junk. That's partly the reason for registering to stop this junk and do my bit to save this planet