Hi I'm 5 months into my IVA. Should.I offer the full outstanding amount to end it ?

Get expert opinion. This is the place for new questions to be posted.
11 posts Page 1 of 1
 
 

Staceydp26

User avatar
Posts: 6
Joined: Wed Jul 13, 2016 7:30 am

Post by Staceydp26 » Wed Jul 13, 2016 7:30 am
Hi I'm 5 months into my iva
It's 6 years and I pay 80 pm
A family member has offered to help me end my iva
Should I offer the full outstanding amount 5360
Ate the likely to accept after so little time
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Wed Jul 13, 2016 8:26 am
Hi and welcome, to offer a full and final may be accepted, you will need to give a reason for your offer. Do you have any equity to release from a property? If so this would need to be addressed within the offer.

Often the creditors would like to receive their money sooner rather than later so it may well be looked upon favourably.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Staceydp26

User avatar
Posts: 6
Joined: Wed Jul 13, 2016 7:30 am

Post by Staceydp26 » Wed Jul 13, 2016 9:06 am
No equity I rent a council house
A family member has offered to pay a lump sum to end my iva
 
 

Staceydp26

User avatar
Posts: 6
Joined: Wed Jul 13, 2016 7:30 am

Post by Staceydp26 » Wed Jul 13, 2016 9:11 am
Should I offer the full amount of would 4500 be looked at
I've asked my iva company for a settlement figure but no reply yet
Do they loose out on fees if you pay early
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:

Post by Shining » Wed Jul 13, 2016 9:15 am
Hi again, to offer as near as possible to the original dividend does mean the creditors are getting their full dividend earlier and may be looked upon favourably.

When you make the offer do ensure you state the money is only available for the successful full and final offer.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

Staceydp26

User avatar
Posts: 6
Joined: Wed Jul 13, 2016 7:30 am

Post by Staceydp26 » Wed Jul 13, 2016 9:16 am
I have said it's only to pay it off or I don't get it my dividend in 23p don't understand it tho
 
 

Staceydp26

User avatar
Posts: 6
Joined: Wed Jul 13, 2016 7:30 am

Post by Staceydp26 » Wed Jul 13, 2016 9:18 am
28.23 is the dividend
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Jul 13, 2016 9:23 am
I would offer £4500 .... the IP will get a little less, but will not have to work for it ! Also the creditors will be saving a chunk in administration over the next few years.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

User avatar
Industry Expert
Posts: 7759
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Wed Jul 13, 2016 1:43 pm
I agree £4.5k would be a reasonable offer to make. Best of luck!
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Staceydp26

User avatar
Posts: 6
Joined: Wed Jul 13, 2016 7:30 am

Post by Staceydp26 » Wed Jul 13, 2016 1:51 pm
Thankyou ill keep you posted
 
 

linrog

User avatar
Posts: 305
Joined: Sat Oct 04, 2014 7:16 pm
Location: United Kingdom

Post by linrog » Wed Jul 13, 2016 3:30 pm
good luck
full final paid over 29/2/16 cc arrived 12/4/16 its all over
11 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”