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Posted: Wed Jan 28, 2009 9:02 pm
by jlo
Hi, this links with a social post I have written about wanting to try for a family. I had debts of £35,000, and to date after almost three years have paid £15,000. My husband is possibly going to sell his house (his before we met and nothing financially connected to me), and is offering to give me around £7000 to try and end my IVA. Do people think this is acceptable as a full and final? I had never heard of them until I came onto this forum?
Thanks for your help,
jlo
Posted: Wed Jan 28, 2009 9:11 pm
by flumpy dog
hi jlo and welcome.
theres nothing to stop you proposing. run it by your ip.
from what ive read on here creditors may be slightly flexible due to the financial climate.
only your ip can advise for sure.
good luck n keep posting x
Posted: Wed Jan 28, 2009 9:38 pm
by Lisa2009
Can i just ask, are you in an IVA at the moment?
Posted: Wed Jan 28, 2009 9:41 pm
by Lisa2009
Sorry, i have just found and read your other post.
It is well worth asking your IP to put the offer forward for you and i think theres a fair chance of it being accepted.
Posted: Wed Jan 28, 2009 11:22 pm
by MelanieGiles
It will depend on what level of dividend you originally pledged, and what return this offer will now make.
Wishing you the best of luck with that and the family.
Posted: Thu Jan 29, 2009 9:16 am
by Michael Peoples
I would certainly give it a try as the total contributions may have decreased but the fees will also come down and creditors have the benefit of the money earlier.
Seems a reasonable offer.
Posted: Thu Jan 29, 2009 10:00 am
by David Mond
Melanie is right. This offer will give prospective creditors (inc what you have already paid in) about 62p in the £. What was the original promise or estimate?