www.iva.co.uk

currently on short time at work at the moment with redundancies likely in coming months so my mum and boyfriend have said they can gift me £4000 as long as the offer as it finishes the IVA the is about 32 months left to run on the IVA currently which works out at about £7000. could melanie or any of the other experts put their opinion on my offer do you think I have a good chance of it being accepted?

If you only have £7k left to pay, then I think £4k sounds like a good offer.

It does sound like a fair offer as you would be saving on some of the fees anyway.

Best of luck with it, i hope its accepted.

Hi
Under the circumstances it sounds a very good offer. Speak wityh your IP and see what thay have to say
Regards

Probably a little low in my eyes, but if you could show that you cannot afford to pay your IVA contributions in the future - which I assume is the case due to your short time working - I would have thought that this has every chance of success if presented properly.

yes melanie short time working plus the was 35 redundancies last week very likely that more redundancies will come soon or they may even shut the place I have put this in the letter. and if i do lose my job i would not be able to earn the money im currently on so bankruptcy would be my only option.

It is a little low - I would expect around £5,750 to £6,000 under normal circumstances - however as you have stated the fact that redundancy looms and you are on short time working is a major plus factor. Ensure your IP articulates this in any report submitted in poutting the £4,000 forward - good luck.

I'm suprised you all saying its low because I posted 6 months ago saying I was thinking of a final offer and said 5k then and you all said its a good offer!!!

But you are now coming back with a £4k offer!

but have made 6 months payments in the mean time surely the closer you get to finishing the iva you put a smaller offer in! also I missed a couple of payment after the 1st year would this help my case for the offer being accepted.

Normally 10% to 15% is what I think the norm is and where I would make recommedations to creditors. There is also the position of IP's fees to sort out. Have you discussed yet with your IP?

what do they usualy charge it is debt free direct im with i thought with the full and final offer ip fees was in the 4k figure!

Don't really know - but they may discount the supervisory fee that would be due to them if the IVA had lasted its full course - why don't you ask them?

I will do on monday. So when you make a full and final offer does that figure you offering not include the fees to my IP or are they always seperate.

No your full and final is just that - my concern is what amount of fee will come out of that which would then leave a balance to your creditors and whether that would be enough!