Full and Final offer made....Waiting....

[Zer0Cash]

Hi,

First post on this forum, wish I'd found it a few years ago, oh well.

I'm currently towards the end of the 4th year of my IVA, for which I pay £300 a month, and have made £400 worth of overpayments since I started. Unfortunately, due to a period of unemployment I had several payments added on to the end of my arrangement, but have always paid on time and never defaulted on any payments.

My father has very generously offered to pay the remaining amount on my IVA. The outstanding amount is £3000, and the offer I made was for the full £3000 (another 10 payments worth)which, with the small overpayments will make slightly more than the original dividend of 19% agreed in my creditors meeting.

My question to people who have done done this sort of thing before is, as most people on here ask, what, in your opinions are the chance of this offer being accepted? are the creditors likely to reject it for any reason?

Good luck to the rest of you guys and thanks for some very useful information in the other posts on here.

M

[ian1968]

hi Zer0cash

i have been in this situation and recently offered this amount. I would say you have a really good chance - just like me i offered what was owing and because the creditors get their hands on the money earlier then they usually accept. I would go ahead and phone your company and offer the amount. i have just got my certificate of completion after doing just this. good luck

[Zer0Cash]

Thanks Ian, very comforting to know that my offer is realistic.

Really well done on getting your certificate, must be a massive weight off your mind, how long did the process take, from making the offer to getting your certificate? I'm not in a great rush, but would be nice to know how far the light at the end of the tunnel is.

Thanks once again [:)]

[ian1968]

no problems - well Grant Thornton who i was with (was not am) weird saying that----- took along time - F&F was paid in April by a third party and i was told it would take between 6-8 weeks. It did take alot longer as they had 54p left in the account in Aug - then Sept 45p - i rung up yesterday and complainted that i do not want to wait another month (they said they do their cheque runs once a month on the 19th) - i was not prepared to wait another month so was persistant on the phone. Received certificate today - Grant Thornton were really good with their customer services but took far too long getting rid of the 54p -----

I think normally the time varies but it should be no more than 3 months but depends on your company.

[Zer0Cash]

Over 54p!!That's really bad they made you wait so long over such an insignificant amount!

Well done again on your debt-free-ness![:)]

[Shining]

All the best with your F&F offer and welcome to the forum. x

[MelanieGiles]

If you are offering a similar return to that originally accepted by creditors there is every chance of a good result, so good luck!

[Zer0Cash]

Thanks for your comments, I'll keep you posted on my progress.

[kallis3]

Good luck from me zer0Cash.

[Zer0Cash]

Well, I've been waiting and sending lots of letters and forms back and forth, but finally got a date for my creditors meeting, I got a letter a week ago saying it would be held on the 13th January. By that time I will have paid another £900.00 in to the arrangement, so I guess my offer will look all the better, well, I hope anyway. Fingers crossed. Ill write and let you know the outcome, very nervous wait till after Christmas now.

[kallis3]

Good luck - I'm sure you will be ok.

[Skippy]

Good luck, let us know how you get on x

[Zer0Cash]

Thank you, I will let you know what happens.

[Zer0Cash]

2 hours till meeting, very nervous, hope its a positive outcome.......

[leaKybrain]

Ooo am sure you will be fine. Let us know the outcome,
Keep calm