Could someone please advise on the proper way to propose a F&F settlement. Should I do it in writing or phone my IP [ with whom I have no personal contact since the start of my IVA 4 yrs ago only to send yearly I&E and the odd letter about PPI ] I am in month 50 of 60. Pymts £300 per month. That leaves £3000. I am expected to remortgage month 54 but as we all know that is unlikely I expect to pay another 12 months in lieu of this.
That's another £3600.Total £6600
A relative will give me £5000 to clear the debt.
I understand from other posts that once you offer it can take 2-3 months for a decision. That would be potentially another £600-£900 paid in.
Does this seem a reasonable offer to put forward?
Any advice would be appreciated
It sounds a reasonable offer to me, as it will also be saving the creditors ( and the IP ) 22 months of admin costs.
My F&F was all dealt with over the phone, or you can pop it in an email. Make it clear that these are third party funds for the purposes of a F&F only and, if the offer is refused, will not be otherwise available.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi and welcome to the forum, hope the above has answered your question. Any more questions just pop back mostly someone about. Good luck with your offer.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
