So Ive spent 2 months going over my near future and options. And Ive decided to go ahead with Perinta. Its high interest but Ive acquired help who will basically allow me to pay off the loan early anyway should it be accepted by creditors in a month or so time. By this time next year I could potentially have 400 quid extra in my pocket each month and be free of the IVA shackles. And whilst I owe so much to this IVA in the first place I won't miss it when its gone.
Anyway Im not writing a post now about how its all over just yet because its far from it but just detailing my current plan and hoping the offer is agreed with my creditors when its put to them. It's like £4200 ..its seems pitiful. Its basically 21 months of payments remaining. If id left this till next year a Full and final would be impossible as my car finance is set to end early next year increasing my monthly payments by double. I need to get this done now!.
Michael Peoples wrote:If you8 can source the funds elsewhere why not use that money for the full and final rather than incurring any costs or interest?
because paying the £1500 interest is kinda less than 8 grand in a full and final
Michael Peoples wrote:Well good luck from me and I hope it works out successfully at the cheapest option for you.
Thanks Michael. I think the only worry for me is that Creditfix think "hang on, you'll be due to pay us extra when your car finance completes next february," Therefore this isnt going to be enough of a Full and Final. (£4200 for 18 months remaining at £200 a month). But I had heard today a variation meeting has been called for the 10th August. So one anxious month ahead for me. Perinta actually told me not to mention any talk of the finance ending to creditfix . Bit deceitful?
I can only hope they can see how much of a simple case mine is. No mortage , no equity , don't own my own house etc . Just £4200 worth of payments at this point unless the loan Full and final is rejected . Then itll be £400 a month from feb when finance ends. :S I can only pray.
The IVA payments are usually structured at the time to take into account any potential uplifts when finance agreements complete. The creditors will know how much they were going to get and compare it to what is offered now and make up their minds.
Michael Peoples wrote:The IVA payments are usually structured at the time to take into account any potential uplifts when finance agreements complete. The creditors will know how much they were going to get and compare it to what is offered now and make up their minds.
well whats being offered is half the amount it would be if the iva wet on past feb next year. . ITs odd the loan company would ask me to keep quiet about the extra money coming from feb onwards? As if they were hoping itd just be forgotten about. Perinta have very good ratings and reviews, surely they wouldn't propose a final offer if they weret confident of it going through ? So many questions . So much anxiety and to wait a month now . :/
Michael Peoples wrote:The IVA payments are usually structured at the time to take into account any potential uplifts when finance agreements complete. The creditors will know how much they were going to get and compare it to what is offered now and make up their minds.
well whats being offered is half the amount it would be if the iva wet on past feb next year. . ITs odd the loan company would ask me to keep quiet about the extra money coming from feb onwards? As if they were hoping itd just be forgotten about. Perinta have very good ratings and reviews, surely they wouldn't propose a final offer if they weret confident of it going through ? So many questions . So much anxiety and to wait a month now . :/
I don't think they are asking you to "keep quiet" in a deceitful way .. more "don't poke a sleeping bear with a sharp stick"
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Michael Peoples wrote:The IVA payments are usually structured at the time to take into account any potential uplifts when finance agreements complete. The creditors will know how much they were going to get and compare it to what is offered now and make up their minds.
well whats being offered is half the amount it would be if the iva wet on past feb next year. . ITs odd the loan company would ask me to keep quiet about the extra money coming from feb onwards? As if they were hoping itd just be forgotten about. Perinta have very good ratings and reviews, surely they wouldn't propose a final offer if they weret confident of it going through ? So many questions . So much anxiety and to wait a month now . :/
I don't think they are asking you to "keep quiet" in a deceitful way .. more "don't poke a sleeping bear with a sharp stick"
lol sure sure but this is the only ting that worries me and I guess the only way indeed is to wait and see but oh my ..what a month its gonna be.
4 more days till the meeting!!! Heres to some good luck for once and the ability to move on with my life and have some blooming pocket money for once. Without fear of credit companys looming on my shoulder.
your case was very similar to mine
I thought long and hard about perintas offer and decided to go for it as
my wages were going up every year plus other stuff
I to had the car finance ending after five years issue and was worried
about how much I would need to borrow of perinta
I also mentioned this to perinta and although they never told me to keep quiet
they just told me to leave it with them
at the time I had 15 months left on my iva plus an extra 12 months at my car finance payment
without any rises in my iva payments and any uplift that came to around £8000
would be substantially more after reviews and overtime etc
I had no idea initially how much they offered but I was very surprised to see it was £6000
and it was accepted.
I am now in the process of an early settlement with perinta
so mine was a success story
