Full and Final offer help

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tasha394

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Post by tasha394 » Wed Mar 01, 2023 4:25 pm
So a family member has offered to pay my IVA off early so they've offered £10,000.

I pay £314 a month and have 34 months left, total of £10,676.

I've rang Creditfix and they said wait until July to make the offer as it'll be accepted. They said they'll take £300 out of £10,000 to set up the meeting with the creditors.

What do you think I should do? It's really affecting my mental health being in this IVA and with cost of living I'm finding it's very difficult.

I just don't know what to do I don't want to be rejected with my offer and have £300 to pay them now.

Breezy

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Post by Breezy » Wed Mar 01, 2023 5:03 pm
It is common practice to add £300 - 500 to fees for the variation meeting, but only CF ask for this as a separate payment. They are also trying to milk more payments from you as they get around £60 a month from those.

With any other provider I would say your offer is a good one and likely to be accepted now --- BUT --- a lot of weight is placed on how the IP presents your offer and CF could scupper it if they are upset ! They do hold all the cards, I am afraid.

Incidentally --- there is no way on God's Green Earth that CF could guarantee that creditors would accept the higher offer, unless they have some form of unusual clause they can depend on.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.

tasha394

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Post by tasha394 » Wed Mar 01, 2023 6:51 pm
Thank you so much, very helpful.

I will put offer in and pray to the gods it's accepted 🙏🏻

They said I need 3 months bank statement & payslips, should I write a letter also explaining the money is ONLY to settle the IVA

Breezy

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Post by Breezy » Wed Mar 01, 2023 6:58 pm
Wed Mar 01, 2023 6:51 pmtasha394 wrote:
They said I need 3 months bank statement & payslips, should I write a letter also explaining the money is ONLY to settle the IVA
I would include a letter, for the avoidance of doubt. You can also expound on your reason for wanting to finish early, for the creditors to consider, mental health being one of them.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.

tasha394

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Post by tasha394 » Mon Mar 06, 2023 4:52 pm
So CF came back and said the minimum acceptable offer is £10,976! Is this normal, I thought whole point was to offer closer to a close figure to what we owed which was £10,676 so they've added £300 fee on top... this is all we owe?!

kallis3

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Post by kallis3 » Mon Mar 06, 2023 5:47 pm
Stick to your guns - it is YOUR offer an they should put it forward..
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Breezy

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Post by Breezy » Mon Mar 06, 2023 7:46 pm
CF have a habit of doing this --- and, no, it is not 'normal'.
I am not qualified to give advice and can only state my opinions, based on my IVA experiences.

tasha394

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Post by tasha394 » Tue Mar 07, 2023 2:41 am
Thank you, you guys are amazing ! I have no idea what I am doing they are clearly taking advantage of people here.
I'm just scared it'll get rejected as they'll ruined it on purpose!
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