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Posted: Fri Oct 31, 2014 5:46 pm
by IdC30
IVA approved in 2014, creditors will receive 8p in the pound after 5 years in 2019. Friends and family have clubbed together, full and final offer would be 6p in the pound, would this be of interest to my IP, creditors.
Posted: Fri Oct 31, 2014 5:59 pm
by winter_blues
Hi, it might be but they normally will look for 100% dividend payments - your remaining term multiplied by your monthly payments. Also, if you have equity then that would have to be factored in. Worth running it past your I.P and take it from there.
Posted: Fri Oct 31, 2014 6:18 pm
by Foggy
As Winter-blues says, it is worth running past your IP. Sometimes they will accept a lower offer to get the money sooner and in one lump, rather than dribs and drabs which cost to administer.