Early Settlement - Variation Document

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Kel

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Post by Kel » Thu Jul 26, 2007 8:27 pm
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Hi everyone, I have just received my variation document from my IP to sign for my early settlement & would like your opinion on something that is written in it.

This is what it says: Creditors will receive an estimated dividend of 34p in the £. Anyhow, this compares with a minimum dividend of 34p as agreed in the original arrangement.

Could anyone explain what this means and if it is a good thing or not as I'm getting more & more nervous as the days go by.


Many thanks

Kel [:D]
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catullus

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Post by catullus » Thu Jul 26, 2007 9:27 pm
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The word "anyhow" appears to be misplaced and I hope the IP has given good reasons why the offer should be accepted.
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Kel

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Post by Kel » Fri Jul 27, 2007 10:04 pm
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Hi, yes I did feel that the word ANYHOW was a little insensitive.

But as I understand (I think) that I will be offering them the same deal several months earlier than scheduled as my payments are set to end in Dec 08 , I just wish that they had worded the document a little better.

In your experience do you think that my offer will be well received or have I misunderstood the document and will they just hold out till Dec 08.


Kel
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catullus

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Post by catullus » Fri Jul 27, 2007 10:37 pm
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On the information that you've provided I think the offer has a good chance of success. I'm assuming the funds to enable you to make this offer are coming from a third party which is a strong inducement for creditors,

Get rid of the "anyhow" and you're cruising!!
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