Hello Knowledgeable posters. Is there anyone out there that would be able to check the following before I send it off to my IP, it's with reference to offering a full and final settlement -
I write with reference to offering a full and final settlement on my IVA. On the xxth of September I was lucky enough to give birth after a long and demarnding pregnancy, having decided to give up work to raise my child I am only left with two options with regards to my IVA. Myself and my partner decided that the only option was to declare myself bankrupt as the drop in wages and paying of the IVA, I would be unable to provide for my young child. Fortunatley my partners father has offered another option, which is to offer a full and final settlemant figure of £xxxx, this is the total amount that he can offer and is a one time offer, the monies will not be available if the offer is declined. This offer is made on the clear understanding that, if accepted, neither you or any associate company will take any other action to enforce or pursue this debt in any way whatsoever and that I will be released from any liability.Payment can be made within 30 days of receiving your written agreement of this offer, by either bank transfer or cheque
I look forward to receiving your reply.
Yours faithfully
Many thanks for any ones time and effort, really appreciated
Hi Emma and welcome to the Forum.
Many congratulations on the birth and for having such an understanding father-in-law. Your letter seems fine and given the circumstances I am sure creditors will fook favourably on your offer.
Many thanks for your kind words. I have two years left and it would be wonderful for it to be finally over, so I can start afresh with my new family. Just wanted to check the letter was o.k so I didn't fall at the final hurdle.
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. http://kallis3.blogs.iva.co.uk
Just as a matter of tactics I think that your letter is a tad demanding.
As an IP I would always advise that the third party funds are paid in to the client account to be held to the order of the relative until written confirmation is issued that a fully and final settlement has been agreed with creditors.
That way the IP is able to give credibilty to the offer that he will be conveying to creditors on your behalf. Nothing better than dangling the money in front of them.
The money would be safe in the hands of the IP (although I would encourage you to get a letter confirming that the money is being held to the order of the relative)
If it can't be done that way then so be it but I'm sure that you will understand the point that I am making.
I agree wholeheartedly with Catallus - funds should be on hand at all times, to ensure a speedy combined chairman's report and closure within 4 days of the creditors meeting.
