www.iva.co.uk

My other half has just had a full and final offer rejected.

Now my question is are we able to get a breakdown of who declined our offer - there are 4 creditors.

Also her situation has changed drastically since the IVA was setup and we are really struggling with the current payments, however Freeman Jones refuse to lower the payments.

When the IVA was setup my partner was living at home with her parents. We have since moved in together which is a massive increase in outgoings. I have taken on most of the payments due to Freeman Jones refusing to budge on the monthly payment, however this is now putting a huge strain on my finances.

I appreciate that this situation is all her own doing and the money is still owed to these people, but it just winds me up when I read stories on here about people who have had F&F offers accepted for ridiculously small amounts. What we have offered is close to the full amount that we owe but they refuse to accept any less than the full amount.

The original debt was £34k and we will be paying £27k by the end of the term. The F&F offer would have meant we would have paid back £24k.

We want to get rid of this debt hanging over us and start a family and move on, but at the moment our lives are just on hold and Freeman Jones just don't seem interested in helping at all. They are just happy to take their cut for doing what seems to be very little for the amount of money that they actually take out of this.

Sorry for the rant, but this is really getting me down now. Any advice would be appreciated.

Hi. FJ should be able to give you a report of the variation meeting, which will detail the votes. However, I do not see this being any assistance.

Yes, I have seen low offers accepted. I have also seen offers over the amount payable rejected!

The viewpoint the creditors seem to be taking, with due respect, is that your partner should have taken the iva payments, as they were, into account when deciding to move in with you and substantially increasing her outgoings.

Dear Mcfc08,

Hi my name is Steve and I am one of Freeman Jones’ official representatives here on the forum. I'm sorry that you feel Freeman Jones hasn’t provided your partner with the support you or she is looking for.

Clearly when proposing a F&F we will try and work with our clients to ensure that the proposal has an excellent chance of succeeding – based on our knowledge of how creditors usually vote. We, as much as you, love to see all our IVA clients become debt free and move on with their lives. Clearly when creditors vote they will look at a range of factors – including how they can recover as much of the funds that they originally lent as possible. Without knowing your partner’s case directly I can’t really comment on why her offer was rejected.

We’d be happy to continue to work with your partner to explore other options and solutions. Please can you ask your partner to email her account reference to me via Steve.hewitt@freemanjones.co.uk and I can look into this for you. We can then provide your partner with more information on the rejection and explore the next steps.

I look forward to hearing from you soon.