Full and Final

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Stupid

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Post by Stupid » Sat Feb 02, 2008 2:35 pm
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Can someone advise me please

At the proposal stage, is it possible to make a full and final offer to creditors then, and if so, is there some kind of formula/amount/percentage that is generally accepted?

Thanks
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MelanieGiles

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Post by MelanieGiles » Sat Feb 02, 2008 3:24 pm
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Yes it is possible to offer an IVA on a full and final settlement basis from the outset, and there are no real rules as to what is generally accepted - just the very best offer you can make.
Regards, Melanie Giles, Insolvency Practitioner
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depressed

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Post by depressed » Thu Feb 07, 2008 2:21 pm
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hi stupid ,we are offering a lump sum iva at around 35- 40 p in the £1 ,we will know more once our proposal is drawn up as we are not certain of our ip charges yet ,we can't commit ourselves to a 5 yr iva due to our circumstances so this is the very best we can offer ,i don't think there is a rule as such as to whats exepted but i know most companies are at least looking for 25p in the £1 ,some like hsbc 40 p in the £1 .
melainie and andy are always fantastic for advice they've stopped alot of my worries over the past few months .
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