www.iva.co.uk

Going to draft a letter to creditors, offering full and final settlement.

How long should i give them in order to come back with a reply.

Because if this does not work, going down route of then going with a IP. So need to have a timescale planned. Just thought a F&F offer mite seem attractive before incurring IP, saying that IP mite have more clout.

Also offer from third party for full and final may only be on offer for 2 months.

As relative has offer money due to partner being poorly waiting for diagnosis, in order so that the debt problem could be resolved and then only need to worry about his health.

Is it best i send it recorded delivery.

Going to draft letters today, as its no go burying head in the sand, he has now faced up to his responsibilities, but has the additional pressure of waiting for results on health.

Forgot to say is there anything in particular i have to state

Hi
Put a full statement of your financial affairs in each letter and state the reason for offering the F+F and the fact that the offer of money will only be valid for 60 days.
Ask for a reply by the end Jan 08 otherwise you will be contacting an IP and using their services.
Good Luck and send each letter recorded delivery.
Do you have many different creditors ? If you do then you would be better considering using an IP and a F+F IVA from the outset as it will be very difficult to pin each creditor down for an answer
Regards
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

Hi Andy

creditors are

Halifax loan
halifax credit card
egg loan
egg credit card
RBS
Virgin
Marks and Spencers

Think some of these might be same company, biggest debt owing to Egg and Halifax.

Have made a list of amount owed to each one

Using a draft letter from the insolvency helpline website. Just thought would try own route if not then go down finding a good IP, Melanie seems very good but personally would like one face to face in the north east area

Hi
I,m sure that other will recommend someone for you.
Good luck
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

I must add whilst I fully understand why you want to attempt to broker an agreement with your creditors direct my gut feeling is that you will not be successful,also due to the time limits of the offer and amount of creditors I'm sure that you would be better going through an IP and a formal IVA.
Regards

Andy Davie
IVA.co.uk Spokesperson and Website Manager

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

I once took 14 months to broker a deal for a client who had two creditors! So that might give you some idea. The difficulty is that you may not be dealing with decision makers and it could go around the houses for some time. I do feel that one of the real advangtages of an IVA is certainty by a specific time - but do try it your way first if you feel that is best, you may be pleasantly suprised, asnd creditors will get the benefit of cost savings.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Thanks Guys.

My gut feeling is will have to follow route of IP,

But suppose i can only try. All payments have now been reduced, its time to take action

But have sent a letter today and told them if not had a response will be putting it in the hands of a IP, come february.

So from now till then can do a search on a good IP company based in north east, noticed some solictors offer this service, maybe better going with someone locally than a big national company.

There is nothing wrong with using an IP company which operates on a national basis, most of us do actually, but if you want to use someone locally - for instance if you feel you would rather have a face to face meeting than do things over the phone - I can recommend Tait Walker who are based in Newcastle.

Good luch and let us know how you get on.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Thanks Melanie

is that the name of the guy himself or the company

The company. I am attaching their website for you

http://www.taitwalker.co.uk/about/ourse ... cue.htmlto have a look at.

Hope you find this of some use.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

Thanks melanie, once again you come up trumps

Will see what becomes of letters i have sent them , might not take me seriuos though.

But will make enquiries and possibly book a ip in february, will explain to them prior what i have done.

I have not read of any creditors settling a debt without the help of a IP for full and final settlement on this forum.

Maybe i am just wasting my time who knows.

One thing i ve learnt with this place is that it is so easy to fall into debt, sick of all adverts on tv.

and we are not alone.

I have just affected a settlement outside of an IVA for a forum member - he only had two creditors and one has agreed and the other one is just messing about a bit, but I am sure that we will nail this during January. So it can be done, but it is not easy - and if you have more than two or three creditors it does get quite difficult.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp