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Posted: Mon Oct 14, 2013 10:13 am
by billyb
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??
Posted: Mon Oct 14, 2013 10:53 am
by kev59
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
Posted: Mon Oct 14, 2013 3:32 pm
by Tina Shortland
Hi Billyb - welcome to the forum
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!
Posted: Tue Oct 15, 2013 1:25 am
by MelanieGiles
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.
Posted: Tue Oct 15, 2013 5:46 am
by luluj
Nothing to add other than my best wishes for the 5 November ..lets hope you will be able to celebrate !
Posted: Mon Nov 04, 2013 6:45 pm
by billyb
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.
Posted: Mon Nov 04, 2013 7:24 pm
by kazzafunk
Well done billyb! Onwards and upwards!!
Posted: Mon Nov 04, 2013 9:01 pm
by JulieJ
Congratulations All the very best for the future.
Posted: Mon Nov 04, 2013 10:51 pm
by Shining
That is brilliant news, hope that certificate follows very soon. Enjoy your debt free future.