Final offer

[DEBTFREEJAN2015]

Hi wondering if someone could help,we've been in our IVA for 2 years now. So far have payed £18,324 back.
With 13 payments of £240,
11 payments £360
£1500 we owed for husbands wages being over.
Plus £9000 we payed from a insurance at the begining, which was part off our IVA agrrement.

As you can see last year they upped our monthly amount by £120 a month. Our yearly review has just come thru and looking at it they are "hinting" that it will go up another £100.
I know our expenditure will have gone up this year, but after speaking to family my Mum has offered to help us out.
We have 3 years left and at this years monthly rate times 36 it would be £13,104.
What would you say to offer as a final payment, we were thinking £10,000 or do you think less or more!!!!!
We are with Mccambridge and Duffy and have found them to be brilliant, but just wondered to ask on here first before approaching them on Tuessday.

Many thanks

[kallis3]

Hi and welcome.

You should offer as close to the original dividend as possible. Also make sure that McCambridge Duffy know that the money is only available for a full and final offer.

You can but speak to them.

[Shining]

I'm not sure on amounts for F&F but do wish you all the best for a conclusion. McCambridge Duffy do have an excellent reputation and sure they'll help you x

[luluj]

I agree you should offer as close to the original agreed dividend .... however take into account three years IP fees etc will not be paid and therefore the £10,000 you speak about may well be acceptable!

Good luck !

[DEBTFREEJAN2015]

The original amount to pay back was @ £24000, but with the extra month in the last year and £1500 we payed in Jan, this would take it over that.

[kallis3]

Don't forget that you will always owe the full amount to your creditors plus fees until the IVA is completed.

[back on track]

do they always take ips fees out when doing a f@f offer as i cant see the ips being very happy about doing f@f if thats the case.when my wife did a full and final they hardley knocked anything off the ips fees and she paid nearly all the dividend that would have been paid over 5 years

[Foggy]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by back on track

do they always take ips fees out when doing a f@f offer as i cant see the ips being very happy about doing f@f if thats the case.when my wife did a full and final they hardley knocked anything off the ips fees and she paid nearly all the dividend that would have been paid over 5 years

It all depends on the terms of your own proposal. Mine get 15%, so if I made a F&F near the expected dividend they'd still get the same amount without having to do the work ... so a bonus !