IVA advice

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Marvelboymike

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Joined: Fri Jan 27, 2017 5:49 am

Post by Marvelboymike » Fri Jan 27, 2017 6:01 am
Hi all!

I currently am 1 year into a 6 year IVA. My overall debt was £17,000 and I have made 12xpayments of £90 (£1,080) and currently have 60x payments of £90 remaining (£5,400). If I let my IVA run its course, the £5,400 is what I would pay; a relative of mine has offered to give me the money to pay this amount as a F&F settlement for me to offer. So is me offering the £5,400 likely to be accepted?

Any help an advice greatly appreciated.

Foggy

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Post by Foggy » Fri Jan 27, 2017 8:03 am
I would imagine they will bite your hand off -- they will save on administration over 5 years --- Often you can round these offers down, but the dividend in this case is already very low, so that could be pushing your luck.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014

Lisa Thomas

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Post by Lisa Thomas » Mon Jan 30, 2017 12:37 pm
Yes its a very attractive offer. I would be tempted to offer less given the amount of time and administration that will be saved in completing so early....
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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