full and final offer

[lee_m]

Hi all, hope everyone is well, been away busy bee opening curtains and seing the sun and making offers. ok i have 7 creditors to 68k and asked if they could all accept pro-rata full and final of 15k (21% ish) I have no job this is from family and friends 1 has accepted, 5 not replied, and hsbc want 44% and not what i can offer, never mind i will try them again otherwise i think i have to go bankcrupt and start again silly though they will probaly get less, just does not make sence and because of hsbc the rest will also not get there offers as its all accept or no one gets as family n friends will only pay if i am debtfree otherwise bankcruptcy is the best answer and that way i wont owe my family and friends anything either. good thing is i'm addressing the issues rather than hiding in shame, and that's 'thanks to this site' so wnatever happens thank you all, and haye it could be worse don't be afraid or let them make you feel like your worthless![:)]

[sps]

Hi lee
Glad to hear you are moving forward in sorting out your debt problems. If it does come to bankruptcy you can do it with your head held high as you have tried to give your creditors a better offer first. Reading others experiences on here such as Skippy has made bankruptcy less frightening, so good luck to you for your future - debt free!!
Regards Sue

[tracy.h]

I really hope lee that you get a good response soon
good luck

[MelanieGiles]

Hi lee

You have tried to pay them some money back to the best of your ability. If the creditors say no, then you can proudly go to the bankruptcy court and state "I did my best".

Sometimes you just cannot get someone to listen to a commercial argument, and you may just spend your time chasing your tail. Look now to the future, and move on.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[jamesfalla]

Hi Lee

When you are speaking to your creditors, have you hammered it home to them that unless a settlement can be agreed, you will declare bankruptcy? I suggest it is worth giving this one more go.

If they are not willing to play ball and listen, then (assuming you have no porperty) I suggest you should not hesitate to declare bankruptcy. Look on the bright side, if you choose the bankruptcy option, you family can keep their hard earned money.

Glad this site is helping

James Falla

Expert in IVA, Bankruptcy and informal Debt Management solutions for over 10 years.

For more information visit www.jamesfalla.com and visit my blog at: http://jamesfalla.blogs.iva.co.uk

[Adam Davies]

Lee_m
You can do no more than you are trying to do now.You should feel proud that you have tried to do your best and if it all ends in bankruptcy so be it.
Good luck

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[scaredkez]

some creditors do not want to listen unfortunately even tho you tell them you are going br and will ask for more you have to be strong my creds have sold the debt on and are trying all the tricks in the book good job i am clued up i just wish i could fund the £1k BR charge asap not easy
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[Adam Davies]

Hi Scaredkez
Why the £1000 ?,I thought the cost of bankruptcy was about £450

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[Skippy]

Andy I think it might be because Kerri and her husband are both petitioning for BR. They've put the price up by another £10 or £15 as well as of 1st April.

Onwards and upwards!!!

View my blog at http://skippy13.blogs.iva.co.uk/

[scaredkez]

thats right it is 485 now x 2 for me and hubby
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/