i have been in an iva now for 18 months and i am trying to finish my term asap can i make a offer of a last payment in full and will this get the noose from around my kneck, or will they come after me for more , a friend of mine has agreed to lend me what it takes and my full repayment after the 5 years would of been £14400 so how much should i have to pay to end my misery, i recently had a change in circumstances where my income dropped by £700 pounds a month and my i p supervisor told me there was nothing they could do for me becouse my new i e, o e showed a deficit of £599 and as they couldnt go to the creditors with these new figures they could do nothing to help me except go bankrupt, i have sold off what goods i had but im now left with no alternatives, where can i go from here
Normally you would need to make an offer as close to the original agreed repayment sum + fees.
Do you own your own home Brent? If your IP does not think the IVA will succeed and your drop in income is permanent then br may be the best option. However if the drop is temporary, can they not authorise a payment break to help you?
Speak to your IP about making a full and final offer. You try and offer as close to your original dividend as possible. If you are not going to be able to up your income it may well be accepted by your creditors.
You can but try.
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
Hi - it doesn't sound as if you could offer anything in br either so I would have thought your creditors would accept pretty much anything in f&f. Are you likely to be able to replace this income? How much is outstanding on your current repayment plan?
