Hello All, Well, a quick update is called for I think. My Creditors met last Friday (22nd) to review my offer of a full and final settlement of my IVA. I offered them £17,500.00. The fantastic news is - they accepted the offer - which I'm overjoyed about!! A real weight has been lifted off me - and ...

Hi Melanie, That's absolutely what I want to achieve - it's 23p in the pound. The trouble is, the IP is going to deduct fees and whatever is left will go to creditors if they agree. The IP seems to be asking me to pay an early repayment fee, but looking at my documentation, there isn't any mention o...

Hi Melanie, So far, I've asked the IP for the 100 pence figure. I've told them I could be in a position to propose an offer of settlement of the IVA. The above info is what they've come back with. My friend has basically said he'll lend me any amount up to 20k. BUT he wants me to see how little I ca...

I was actually going to tell them that the opportunity has come up to pay it because a friend is lending me the money. I'm keen to settle my debts and finally be debt free. And this allows me to resign from my job and start looking for another one or maybe even go traveling. Do you think they would ...

Hi Melanie, I'm not paying 100 pence in the pound - that's the problem. I want to get away with paying as little as possible and getting out of it. I've had the following breakdown from them: Total Funds To Date: £10088 Bank Interest: £37.59 Fees Paid - Nominees Fees: £2500 - Supervisors Fees: £1950...

Hello All, Well here's an update. Debt Free Direct finally got back to me after nearly two weeks with my 100 pence figure. They've told me the 100 pence figure is £94,454.94. And they've attached a breakdown. They've outlined their fees/etc. They've also asked for: 1. The reason I wish to settle 2. ...

Hello All, I just wanted to update you on where I am up to with all of the above. I have just sorted out funding to pay off the IVA through a friend. So I am just about to start the process of making a full & final offer to the creditors. I will keep you posted of progress and will keep posting to t...

Hi Melanie,

Thanks for the letter format. Is it worth insisting in the offer of a F+F that the offer is being made subject to the creditors updating the CRA's and also is it worth advising the IP that the offer could be increased for a quick resolution and completion?

Thanks

Mario

Hi Andy, Thanks for the quick response. Just one more question (at least I hope it's only one more!): - How should I word an actual email/letter to the IP telling them I wish to make a F+F offer? I want to be as specific as possible including: - Asking them to confirm removal of my name from the Ins...

Hi Everyone, Thanks for the info. I'm going to offer them a F+F. I have a couple of other questions: 1. Will my name be removed from the Insolvency Register when I complete the F+F or full it stay there until the end of the five years? 2. As I understood it, if I had gone the whole way with the IVA ...

I have my IVA with DFD (I presume you mean Debt Free Direct). They've been pretty good. I didn't realise you could do an IVA over 6 years - I thought they HAD to be 5 years. Mine is over 5 years. I also do an annual review which is submitted to my creditors and I get a copy of it. Are you sure you'v...

What about things like increases in income or property purchases? If I get on the property ladder - will they have a claim over that?

Hi, Thanks so much for the response. I don't own a property - I'm renting a room in my friends house. Will there be any intrusion into my affairs after settlement? The reason I ask is that if I won the lottery the week after settlement (I obviously plan to - but its highly unlikely!) - would the IVA...

Hello All, I currently have an IVA and have now completed 24 months of it - so 40% of the way through. A friend of mine has offered to settle the IVA for me and I have some questions about how to proceed. 1. How should I word the email to the IVA Supervisor about wanting to settle - are there specif...