Been in a IVA since jan 2010. Was made redundant in July and decided to make a Full and Final offer. Variations meeting due 5th November - Offered 16p in the £ against original IVA of 0.22p in £. IP accepted offer just waiting for creditors - will they accept??
A lump sum now is better then nothing monthly and you going for br. Ok that may not be in your thinking. But they don't know that.
sure you ip will show them 16p is more then they would get should you go br.
I know mine did and it went though. good luck
IVA now over with and it was worth it.
now starting my life again,
Sorry to hear about the redundancy. No-one can say for definite what the creditors will accept but as Kev says a lump sum now at a reduced dividend is better if your payments were going to have to drop anyway. Have you got another job now?
Your IP would not have put it forward if they believed it was not a viable offer.
Let us know how you get on - good luck for the 5th!
Regards, Tina Shortland, Debt Advisory Manager for Melanie Giles at Debt Advice TV.
If you’re looking for effective debt related information, articles and news, then go now to our on-line advice service at www.debtadvicetv.com
If you’re ready to ask us for specific advice or help, then get in touch at www.call-me.debtadvicetv.com so you can start to free yourself from the stress and anxiety of overwhelming debt.
No-one can assure you right now whether your creditors will accept or not, but if you have put the best offer forward then there should be no reason to anticipate a rejection. Keep positive and let your IP do the hard work.
Well - got a bit of an update. Firstly - i got the date wrong - the variations meeting was today. Waited all day sitting by the phone waiting for that important call. Meeting was 11:30. By 15; not heard anything so i put a call in - meeting still not completed. Waited until 16:45 and phoned again - Well - it was confirmed my full and final offer was accepted and was told my certificate of completion should take no longer than 90 days. Payment sent this evening.. yipeeeeeeee... Out of the IVA after 46 out of 72 months. End of an era now. Never again, but i bet every one says that.
