Full and final offer - I have £10,000 left to pay on my iva and my parents have offered to help out (yay!) can anyone offer some advice on the amount I should offer to the creditors bearing in mind it takes approx 4 months and in that time I still need to pay my monthly 'contribution' of £1160
I take it you have 8 or 9 payments left. In which case there is little to be gained by either you or your creditors from accepting a F&F. In which case ( considering the variation meeting will also cost creditors £500) I can only see the full amount being accepted.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
There are a few IP's who charge the client (you), these are very rare, but the majority take the fee from the IVA pot --- so it is, in effect, the creditors who pay it. In my case there wasn't enough left in the pot to cover the variation fee, so the IP took the hit.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
As you only have about 9 months left to go by my calculations I would let the IVA run its course. You won't benefit much by finishing a few months early except for taking back control over your finances.
