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Posted: Mon Feb 08, 2016 11:01 am
by Jishmon
I am runiing on 5the year of my iva and I tried remortgaging at 54th month which was a failure. So I will have to continue for another 12 months. I would like to know if there is a chance my creditore will accept a full and final settlement as on of my relatives is ready to pay for me. Will there be another review if prior to the final settlement?or at the beginning of the 6th year? Please Let me know. My moenthly payment is £350 ans what outstanding is nearly 6300.
Regards
Jishmon
Posted: Mon Feb 08, 2016 11:05 am
by kallis3
Hi and welcome,
There is always a chance that a full and final could be accepted.
How much is relative willing to give you?
Posted: Mon Feb 08, 2016 12:25 pm
by Lisa Thomas
Hi you could make a F&F offer although if you wait too long it won't be worth it as it will take your IP one month to call the variation meeting once they have received all the necessary paperwork and information from you to do so.
Best to act quickly.
I would think an offer of £5.5k would be reasonable but if you want to make it as attractive as possible you would offer as much as £6.3k.