Have the opportunity by way of 3rd party to offer ff equivalent to remaining term of Iva . Just spoken to creditfix where my case has now been sold and was told that " no way would the creditors accept this offer " . And I should think about offering something nearer the equity in my property !!what shall I do now ?
If you have a property it is usual to include the 12 months in lieu in the offer. Did you do this ?
At the end of the day it isn't Creditfix's (or any other firms) decision --- it is down to the creditors to accept or reject. That said the way in which the IP frames the offer helps ( or hinders).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I have 14 months left on a 60 month Iva . I offered the remaining 14 months plus a further 12 months of payments for the equity of property and was told that " I can tell you now that your creditors would not entertain this " !!
If you've offered the remaining payments in full and a further 12 months in lieu of equity it seems a bit harsh to say your creditors wouldn't entertain this, is there a lot more equity than equates to the 12 monthly payments.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
I have worked out the approx equity is 16k the monthly payments into Iva are 205 . So maybe they want a ff offer near the 16k mark which I can not do .
Thanks . I will call Them again at end of next week maybe by then they would have my full file transferred across and will give a more realistic reply .
Like others on here I am struggling due to changes in circumstances and know that the Iva has a chance of failing in the near future . Also worried now that my nhs pension which was excluded in Iva will be available to me to drawn down a lump sum within in the next 3 months and concerned that they will ask me to do this and pay it all into Iva .
. some times its better to be poor lol