www.iva.co.uk

My IP has set a date for a variation meeting for our F&F for 1st June, which is great news. The lady dealing with it told my husband that it's not actually a meeting, creditors fax her with their decision throughout the 28 day period, is this right?

Also, please forgive my baby brain, but I've got my figures wrong in my last post...

Over the 5 years we were due to pay back £19760.40 (this is after our IP fees) with our F&F offer we will actually be paying back £18137.66 (as we've only got 11 months left). This means that the creditors are only letting us off a combined £1622.74, which equates to £95.46 each. The combined offer works out to 18.31p in the £1. Does this sound like a better offer now? Sorry to be confusing!

Best of luck with the offer and it sounds very reasonable. If your IP is happy to recommend the offer they must be confident it will be accepted by creditors. There is a meeting called but in reality your case worker is right. Creditors fax their acceptances over the next 4 weeks and if there are not enough or any rejections, your IP will chase down the other creditors.

Great, thanks Michael. I got my figures badly wrong in the last post, no wonder it looked like a bad offer!

I'm hoping that our offer, along with our circumstances (expecting a baby in July) that they will accept.

Can I ask what happens after if the F&F is accepted?

Once the offer has been accepted the IP will pay out the money and issue you with your certificate.Your name will then be removed from the insolvency register and you can start to rebuild your credit file.The whole process should be completed within about two months from now.

That's great, thank you very much Michael

Best of luck x

Good luck from me as well.

Thanks Lesley and Kallis