Full and final Settlement meeting adjourned

[Rich]

Hi Michael its all wrong with the wording. I have no choice in taking this gamble. It shouldnt be like that. I want to do the best I can for everyone. I dont expect banks to just write off a considerable amount of debt. But to be honest, they have had whats owed in interest etc It would help so many people out if they looked at what has been borrowed the amount repaid Card interest rates increased so much once they noticed I was only paying min paymens It the end was paying say £50 then interest of £49.20 !

[Rich]

My Proposals say Bankrupcy 4p full and final settlement 9p Kazzafunk you have replied a few times to me, thanks it really does help xx

[MelanieGiles]

Which IP firm are you with Rich456, and did you agree the terms of the variaton in advance before this was issued to creditors?

[kallis3]

Hang in there Rich - we all know what you're going through but with us behind you, you can do it.

I know most of us hide behind forum names but I consider most people who post on here to be good friends, some of whom I can turn to off forum if I need to for that kick up the behind sometimes!!

[kazzafunk]

font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Rich456

My Proposals say Bankrupcy 4p full and final settlement 9p Kazzafunk you have replied a few times to me, thanks it really does help xx

I just know how it feels to be in the place you are at present. It's what I love about the forum - we can all ask for advice and give advice.

[Rich]

If the full and final settlement offer is not accepted can I negotiate ? or is that it ?

[MelanieGiles]

You will have up to 14 days to renegotiate your offer Rich, but it is always best to put the best offer forward in the first place in my experience. This is why it is so important to agree the terms of variation with your IP in advance.

[Rich]

Mel I have offered £10000 . Like I mentioned a friend of mine offered a further 5000 which I thought would really help but my ip didnt seem interested in this additional amount and just said we had a 50/50 chance of it being accepted. I would have rather put an offer forward to 15000 but I just went along with what they said

[Rosepetal]

hi, when you're in a dark place you have to cling on,hour by hour if need be.

your offer clearly shows that the creditors will get more in the pound return if they accept your offer than they will if you are forced into BR. they WILL SEE THIS, take hope from that.

we all feel we've let family,loved ones down at some point. to have depression on top of that is hard BUT you will come through this, look at all the replies, you are NOT alone however black things feel.

the antidepressants should help but they can take at least a couple of weeks to kick in,i'm sure a family member would help you with the prescription. when you reach a certain low you can't "feel" very much,everthing takes such effort - the smallest tasks seem so huge.

But, things will get better. hang in there,day by day,hour by hour if thats what it takes. you will get through this time[;)],like kazza,i've been there & come through,hug.

[Rich]

thanks Rosepetal xx brought a tear to my eyes reading that, well more than a tear !

[MelanieGiles]

If you had wanted to increase the offer, then your IP should have acted upon your instructions, however I suspect that they feel that the £10k is a good one and probably didn't want your friend to be exposed further unless this became necessary. Keep the £5k up your sleeve if the other offer is rejected.

[Michael Peoples]

If the £10,000 is rejected you can go back with the extra £5k despite your IP forcing himself into a corner by promising bankruptcy. The meeting can be adjourned as Melanie says and the offer can be improved if required.

Best of luck with the variation but if rejected find out what creditors want and try and reach an accommodation rather than letting your IP reach staright for a bankruptcy petition.

[Rich]

thanks Mel and Michael, beginning to feel slightly better now ! you guys are good

[Rosepetal]

glad it helped you,big hug. it ALWAYS ALWAYS helps to know you're not alone.

we did a F&f IVA with Mel,this time is stressful. i agree with Mel & Michael, your IP wouldn't want to put it forward,do all the work for it if they didn't think it'd go through.

posting for support really helps.

you're gonna be ok. i'm sure your family love you very much, talk to them - you could do with a good hug x

[Rich]

i could do with a big hug, I am feeling better knowing that I can put through a further offer if its not accepted. Rosepetal you are a star xx