letter head

[indebtforever]

hi can anyone advise does this look ok for a letter sent to my ip for f+f?
Dear sir/madam,
Further to our telephone converstation i would like to formally offer a lump sum payment of ---- as a full and final settlement of my current IVA.
I am to lose my shift allowance at work and this will mean that i will be unable to maintain my current IVA payments due to loss of income.
As agreed i will continue to make monthly payments until the conclusion of the variation meeting has been reached and then offer the lump sum to conclude my IVA.
The lump sum of ---- is coming from my brother in law from a loan on the understanding that it is only available if used to conclude my IVA and any disposable income that i have left will be to repay him back.
Would you please arrange a variation meeting and put this offer to my creditors.

yours sincerely

[connie]

i don't know what they want in a letter to do a F&F but i think this looks fine

[indebtforever]

i hope so my remortgage route to end early has come to a dead end[|)]

[penny.l]

This is exactly the type of letter I wrote when I did the very same thing a few months ago. Your IP will put a proper offer together anyway on your behalf. Be aware that it may take some weeks for them to actually put it to the creditors (depending on their work load) and some weeks after that until you get a decision (I waited 3 months)

[indebtforever]

thx for the info penny [:)]

[abc]

You could do with a letter from your brother in law agreeing to lend you the money and perhaps evidence that he has the loan in principal.

[indebtforever]

thx abc i will send a letter from my brother in law saying he will lend the funds and has the money waiting with my letter

just one other point if you send a letter in writing is your ip obliged to contact creditors or can he just turn round and say the offer is a joke go away?

[MelanieGiles]

It's a good letter, and personally I would want the funds in my bank account before I would put any revised offer forward.

[abc]

If ou provide the letter from your brother in law with evidence that he has the loan approved then I see no reason why your supervisor should not put forward the variation. I would not recommend that you brother in law obtains the loan first as creditors may reject the variation and then ou do not need the funds and your brother in law is stuck with a loan he does not need. Good luck and sorry for the delay in responding,

[MelanieGiles]

Where does it say anything about the poster's brother taking out a loan? I thought he was the one making the loan unless I am being thick!

[Kazzy E]

Mel, it says it in the first posting (brother-in-law) though. Kazzy

[MelanieGiles]

I still read that that the loan is being made rather than taken out by the BIL - but maybe my interpretation is incorrect. Perhaps IDF could clarify for the sake of the thread.

[abc]

The lump sum of ---- is coming from my brother in law from a loan on the understanding that it is only available if used to conclude my IVA and any disposable income that i have left will be to repay him back.

I read this as coming from a loan but I maybe wrong!

[indebtforever]

hi thanks again sorry for the confusion my brother in law is going to loan me the money but the figue i had in mind is not the one my ip has in mind [:I]so you will have to put up with my moaning a bit longer

regards

[MelanieGiles]

The point we are all debating is whether your brother is going to take his own loan out with a bank to be able to give you the money, or whether he already has the money and is going to make you a loan.