has anyone with aperture done a full and final with them plz? We've rung them and they only want our I&e form which the variation team will look at to decide if our Ivas are unsustainable. How long did it take for everything to be sorted and accepted?
we wanted to put everything together and send them it all so it can be sorted as quick as possible as We will really struggle to get julys payment and not sure what to do as we wanted it over ASAP although we are not sure what to offer, my partners iva is pretty straight forward but I've had quite abit of ppi so I really don't know what to offer for mine tbh our debt isnt actually a hugh amount that's why I'm abit confused as to what to offer my dads given us a ball park figure of what he will gift us we just want to get it right as there's no way these Ivas can carry on which is a shame we are only on month 9 of 60 ;(
I'm so sorry to all those if I keep repeating myself but I'm actually going mad thinking too much also included is the lack of sleep I'm getting from all the worry
It is just a case of asking ' how long is a piece of string' unfortunately.
Keep pestering them until they get back to you with an answer
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
The offer is normally based on the number of payments you have left x the monthly payments. This gives you a starting point.
remember to allow for an 12 month extension if you have relevant equity.
If your net disposable income has reduced, and your IP is going to reduce your contributions then you could wait until that has been agreed and then calculate the future payments on the lower sum.
My tax credits have now reduced to just under £10 a week Ive done my own I&e and we are only left with around £40 surplus to pay our Ivas from July if that's the correct rent we will paying etc.... Ivas are £75 each (£150 a month) no assets and no equity we have 50 months left after June's payment....I'm
Not too sure what to offer on mine though tbh as we have different creditors so need to offer 2 lots i imagine but we was hoping they may take into consideration my £2100 in ppi payout aswell as our change of circumstances we know how much we owe individually but was wondering if my creditors would accept a lower offer than my partners so could put a little extra onto his as he has no ppi and I've paid more than him as my debt was more so had increased payments for the first 7 months on my mine.........confused, stressed and worried.com
Hi,
We have just completed having ofsted a f&f with aperture. We sent them everything at the same time, house valuation, letter from third party offering x amount and our income and expenditure. I'm not sure if it made a difference as they only looked at the I &e form first. We sent that in, they arranged a telephone consultation for about 10 days later, the draft proposal to creditors was emailed to us about a week later, we agreed and a meeting was set up for for 4 weeks later. After the meeting we were emailed documents to electronically sign ams received our CC around 2 weeks later. From ageing to go ahead with the proposal to cc was not quite 4 months.
Hope this helps and good luck
Nmc
Thank you Nmc for replying and well done having your offer accepted and your cc in your hands, was hoping it may not take that long but they do seem to be abit slower than our previous iva company and we've still not managed to speak to our new ip which we find odd as we had our last ips direct number.....one good thing is they have said if we can't manage anymore payments they will freeze our monthly repayments until the variations team have decided how we can go forward so once I've got everything in order to do our new I&e paperwork wise from rent/hmrc etc we will get the ball rolling hopefully ASAP
Not too sure what to offer on mine though tbh as we have different creditors so need to offer 2 lots "
As I mentioned above - you don't base the offer on the creditors you have, you base it on the number of payments left to make.
If for example they are dropped to £40 and you have 50 payments left to make that would be £2,000 and this is what you would use as a starting point.
The alternative might have been to ask for a variation that creditors accept payments to date in f&f but given the IVA hasn't been doing for very long and I think you have told them you have a third party who might be willing to help then they might not accept this.
No your right Lisa it hasn't been going for very long and as my partners paid in less than £1000 and I've done under £2000 plus ppi we didn't feel that the creditors would accept that so felt the best option was a third party as we don't want them to fail the iva or make us bankrupt and I suppose I've gotta conscience as we got ourselves into the mess and so want to clear as much as possible......I know how much is still owed together from the calculations but my dads not willing to up the gift so we will have to start lowish and then negotiate up to the maximum (£4k-£5k) I suppose as theres not going to be anymore payments after June as we are starting to struggle to get the rest of the payment for June but we want to pay next month.....it's just turning into a nitemare we were so positive when it sorted
I don't understand why you would offer $k to £5k if your contributions will only amount to £2k, unless this is for two IVAs and you both have the same net income. Wait for your IP to come back to you about your contribution review and see what figure, if any they reduce it to. Then you can calculate your settlement offer.
Currently we pay £150 a month (£75 each) and leaves 150x50 = 7500 hence why my dads said start at 4k and see what advice is given but the max he will gift us is £5k.......Lisa we haven't been told anything about them being able to reduce our monthly payments just that they want to see an i&e and assess our change of circumstances then we can offer an f&f if it's unsustainable.
So when it's all been looked at by the variations team your saying that they may reduce it to our £40 surplus which is £20 each a month and then do an f&f from those figures ????? We both owe the same now within our ivas.
I was led to believe that our creditors would not accept a lower monthly payment tbh they weren't very happy at us paying £75 each, each one of us had a creditor who changed it from £70 to £75 a month each.
Thanks Lisa I hope I'm not being a pain in the butt with my lack of understanding, it's just I'm going by what I was led to believe I was meant to do to get a figure for an f&f
Abit confused as I've just sat down to look at our I&e form which heads 'change of circumstances with the reason for the change..............
But What I'm confused with is it says full and final after these and asks how much the offer is I'm not sure I know what to put now as I'm feeling confused about it all,so does that then mean the scenario Lisa said about changing the payments and then offer the f&f can't happen as they want to know what we are offering from the start so they can make the decision on what type of meeting they will be calling with our creditors ????
There are two issues going on here and I think they have become mixed.
I suspect they are aware that you are thinking about putting forward an F&F offer.
You currently pay £75 per month and have 50 months left, which would be £3,750 (each) if you were to continue in the normal way.
However your circumstances have changed and you can now only afford £40 per month.
As I see it your options were/are:
a) ask for a reduction in your payments from £75 to £40 and continue paying the lower amounts (if approved)
b) per a) above but then (if/when approved) put forward a F&F based on the lower total figure of c£2000.
c) put forward a settlement offer based on the £3,750.
The risk with a) and b) is that creditors might not accept the lower payments.
The risk with c) is that creditors might not accept a lower F&F settlement offer.
However ultimately if you can't reach an agreement you could be bankrupted and that will result in no dividends for creditors from income contributions anyway as all the realisations will be eaten in costs so settlement would seem more attractive.
Do you have any other assets, equity in property etc?
Thank you Lisa sorry for all the questions, just wish aperture would be more helpful so to speak they just keep going on about 100p to the £ which we understand but are not at a stage where that will be possible.
Myself and my partner are not sure if they would settle for a lower monthly payment as our original payment a month was £70 each but 1 of my creditors wanted a little bit more and so did my partners one and only creditor, but we can see what is said and if they can for 1 minute in our conversations stop going on about the p in £ and actually give some advice to us about lower payments etc.
We live in a council property so have no assets we both have cars but they were left out of the iva as assets as they are not worth much. I think the creditors would be silly to make us bankrupt as then they would 0 and is something better than nothing but I suppose I'm
Not a creditor so no idea how they think.
