F&F

[trazy]

I started an IVA in December 2017 - first payment was 1st Feb '18 (so only made 2 payments so far) currently paying £177 a month.
Therefore another £10,266 due if I carry on paying monthly.

A family member has said they may be able to help me out with £6-7k to close the IVA- do you think a F&F offer around this mark has any chance of being accepted?
I'm with Stepchange (I don't know if that makes any difference?)

The money is coming from a house they are selling so probably looking at a few more months before they are actually in a position so do this (therefore a few more payments will have been made).

Would be great to hear what you all think

[Foggy]

Considering that they will save an amount on administration over the next, nigh on, 5 years I would think an offer of £7k would be worth discussing, however the total amount of original debt will also play a part in their thoughts on the offer.

[trazy]

Thanks Foggy - original debt was around 29k.

Currently due to repay 22p / £.

I'm not really sure how F&F offers work (never dreamt we were going to be in position to suggest one!).

Do they have to call another creditors meeting to approve / decline it?

[Foggy]

Thanks Foggy - original debt was around 29k.

Currently due to repay 22p / £.

I'm not really sure how F&F offers work (never dreamt we were going to be in position to suggest one!).

Do they have to call another creditors meeting to approve / decline it?

They will call a variation meeting and creditors will vote in the same way as the initial creditors meeting. Best of luck with it.

[Lisa Thomas]

My video should give you a starting point:

https://youtu.be/h4dozq9aGak