F & F How much to offer?

[ml1975]

My IVA is £440 per month, I have paid 8 months and there are 52 months remaining (£22880). I have had to suspend 10 payments over the last 18 months due to un-emplyment.

My wifes parents have very kindly offered to lend me some money as a f & f offer.

I approached my ip about this asking her how much a sensible offer would need to be and she replied asking how much money are they willing to lend. I don't want to push my luck with my wifes parents as they are being very kind.

Also, looking through my iva paperwork I really cant tell what is what when it comes to my ip's fees/charges etc.

Is there anyway of working out what the offer should be?

My iva is through Payplan.

Thanks in advance for your help.

[MelanieGiles]

Hi there and welcome to the forum

The person you spoke to at your IP firm, which I doubt was the IP themselves, should have given you a little more help - although their question was a valid one.

I generally calculate for my clients what they would need to pay in to achieve the dividend originally pledged. However in your case, with a lengthy period of unemployment being experienced, you may well be able to negotiate a lower settlement - which does need to be in a bracket that your relatives can afford.