Full & Final Settlement

[Aaron]

Hi,

My original IVA proposal was to return .40p in the £. I've been contributing for the last 14 months and my mother has offered a final settlement, but the max she can afford right now works out to be 0.38p...up from 0.36p a couple of days ago.

What is the probabilty (eg 80%) that this is successful at 0.38p? Most of my debt has been bought by Max recovery now so we're not dealing with the original lenders. I'm still waiting the same answer from my IP.

Thanks

[Lisa2009]

There would be nothing to lose by ofering that and as max recovery would have bought your debts for a very small ammount, they stand to still make a handsome profit. I would suggest putting it in writing to your IP stating that this money is only available to you if your offer is successful and that you will then be paying your mother back.
Good luck

[Aaron]

Thanks. Hopefully you're right.