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Backontrack

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Post by Backontrack » Thu Feb 26, 2015 4:41 pm
Hi there, myself and my wife are in a 60 month joint iva with credit fix (lucky us)!.
We are currently on month 43 paying £249 a month. My wife is suffering with clinical depression and to be honest is struggling with work and home life. Her job only just covered our childcare bill anyway and I'm not sure how much longer she can go on.
My sister in law has offered us a some of about £5000 to put forward as a full and final. Do you think this is a realistic offer?
My wife could do without the job at the moment to concentrate on herself really.
How would I go about making the offer without credit fix laughing at us? We have not signed there new terms.
What would my sister in law need to supply?
 
 

Shining

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Post by Shining » Thu Feb 26, 2015 4:48 pm
Hi is there any equity to release into the IVA?

I think 5000 is a realistic offer based on payments and months left 17 x 249 = 4233.

Has PPI been dealt with?

I'm not trying to throw a spanner in the works but to try and cover all bases that they might come up with.

The offer from your sister in law should be stated to be there for full and final purposes only and if the offer is not accepted then it will be withdrawn. Maybe write in to reduce the offer by the amount of the monthly payment whilst waiting for the meeting so if it takes 4 months for example 4 x 249 will be deducted from the offer of £5k. This is obviously optional and by no means my best advice it's something I've read some posters offer on the forum.

Very often creditors would rather get their money sooner rather than later - I sincerely hope your wife feels more positive soon and am confident without the burden of the IVA things can only get better. All the best and do hang in there as other posters will give their advice too.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Backontrack

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Post by Backontrack » Thu Feb 26, 2015 4:53 pm
We don't have a mortgage as we don't rent, neither of us ever had any sort of PPi at all either
 
 

Backontrack

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Post by Backontrack » Thu Feb 26, 2015 4:55 pm
I meant we rent so don't have a mortgage, do you know what my sister in law will need to supply to credit Fix?
 
 

Foggy

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Post by Foggy » Thu Feb 26, 2015 5:03 pm
I think it is a good offer, indeed, I personally would go in with £4000, as a few payments will be made while it is being sorted out. But, of course, this is a matter for you to decide, obviously the better the offer the more likely it is to appeal.

Peoples health is a serious matter and I don't think you will be laughed at. The creditors will be getting what they signed up for and will be saving on administration costs at the same time, as will CF.

Best of luck with it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Backontrack

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Post by Backontrack » Fri Feb 27, 2015 4:47 pm
Could someone advise what my sister in law will need to provide to credit fix?
 
 

Foggy

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Post by Foggy » Fri Feb 27, 2015 5:25 pm
Backontrack. For what ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Backontrack

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Post by Backontrack » Fri Feb 27, 2015 6:25 pm
What my sister in law will need to provide crediitfix to say she can offer the funds for a full and final for us, just a letter?
 
 

Foggy

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Post by Foggy » Fri Feb 27, 2015 8:32 pm
Ah, right --- usually just a letter, although some firms want to see the donors bank statement showing that the funds are there. CreditFix are a bit of an unknown quantity at the moment.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

mrsbee

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Post by mrsbee » Sat Feb 28, 2015 7:40 am
Hi we are in the process of doing a F&F with CF at the moment the resolutions department will tell you what you need they have been fab actually, our relative needed to supply bank statement from the account the funds would come from, photo ID, and a letter, we just needed to provide mortgage statement and a recent property valuation. Good luck with your F&F. Our meeting is in a few weeks!
Debt free after a successful f&f :)
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