Page 1 of 1
Posted: Mon Sep 26, 2011 7:32 pm
by donnat247
I am 30 months into my IVA and have paid off £8000 so far. I am paying 23p in the £ towards this. Do you think if I offered a 30-35p in the £ as a settlement it is likely to be accepted?
My parents have offered to lend me a lump sum to pay for this as my income has reduced since taking it out and my rent will be increasing from May 2011
Thank you in advnace
Donna
Posted: Mon Sep 26, 2011 7:39 pm
by Foggy
From "that other place":
Assuming you are exactly half way through and the amount you have paid thus far is just "normal" repayments ( no Overtime etc), you still have 7800 to pay off to make your projected 23p in the pound. So your calculations above are flawed, I am afraid, as making an offer of the full £7800 will still only net 23p/£.
Considering you would be paying the lump earlier than the 60 month end date the creditors might agree to "losing" a little, but not a lot. Looking at it from their point of view, unless you have compleeing reasons to end early, they might as well sit back and get more money out of you!
Personally, and I may be wrong, I think you'd be pushing your luck with an offer of £6000, might get £7000 accepted, but not £4000. Sorry.
Posted: Mon Sep 26, 2011 7:56 pm
by donnat247
Lol....thank you again Foogy. As previously said, I really appreciate your advice. Sorry if I came off rude on the 'THE OTHER PLACE!!' but am going through a lot of worries(as I am sure we all are) and just really wanted a bit of guidance. I really am a nice person!!!
Posted: Mon Sep 26, 2011 8:18 pm
by Foggy
No worries, Donna. we all have off days ( I have been known to have the off week! ). we are here to help.