full & final offer - potential problem?

Meet the experts that answer your questions
3 posts Page 1 of 1


Posts: 2
Joined: Fri Aug 27, 2021 11:19 pm

Post by debtregret21 » Fri Aug 27, 2021 11:33 pm
Hi all, first post but I have been using the forum to do some research so thanks to all.

I have 24 x payments of £126 left on my IVA, so was all ready to make a F&F offer of the equivalent of these payments via a close friend who offered to gift me the money after seeing the effect of the worry of an IVA has had on my mental health (I essentially want to leave my job due to excess stress for low pay, but I have not managed to find anything else yet despite having had a few interviews).

But I then realised that from month 37 (Sept 2021) my payments were due to go up to £356 as my HP on my car is due to finish. Would this mean that my proposed F&F would not be accepted once they realise that they were due to start getting higher payments any time now?

Seperately but related, my variation proposal for the car finance was accepted in 2019 but states that my car loan payments are due to finish in month 37, but they actually have another 12 months - I am 2 years into the 3 year loan. Can anyone advise what do do about that? I didn't notice this at the time but looking back it clearly states that payments will increase at month 37, but obviously i am not in a position to do that for another year. I think I was just so relieved that it was accepted (I was desperate to keep a fairly reliable car for family illness reasons) that I didn't check the paperwork as carefully as i should have done.

Thanks in advance for any advice


User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Sat Aug 28, 2021 10:03 am

Sorry to hear of your problems. Hope you can get a new job soon. As regards your F&F, I would speak to your company and put that offer forward and see what they say.
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.


Posts: 2
Joined: Fri Aug 27, 2021 11:19 pm

Post by debtregret21 » Sun Aug 29, 2021 8:05 pm
Thank you! Yes I guess it's worth a try!
3 posts Page 1 of 1
Return to “Meet the experts”