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Posted: Wed Apr 11, 2007 6:53 am
by r_l
i had about £22k Worth of debt - i have been paying £275 a month for 18months. do ill be paying back a total of £16500. What sort of sum would you suggest as putting forward to my creditors to come out of this early? My father has offered this.
Posted: Wed Apr 11, 2007 9:17 am
by MelanieGiles
I would suggest about £12,000. This equates to the remainder of your contributions and gives creditors a little bit more to tempt them to accept your offer. Take advice from your IP though in the first instance.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
For further details contact me at
http://www.melaniegiles.com and view my IVA blog at:
http://melaniegiles.blogs.iva.co.uk
Posted: Wed Apr 11, 2007 12:12 pm
by Oliver
Hi r_l
Make sure that your IP undersands that your Father will require the money paid back to him and that the cash is not a gift. This way you can argue that your current disposable income will now have to be used to pay your Father back.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp
Posted: Wed Apr 11, 2007 12:14 pm
by r_l
Many thanks for all your advice.
Will do X
Posted: Wed Apr 11, 2007 12:16 pm
by Oliver
You're more than welcome. All the best with everything.
Best Regards
Oliver
Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at:
www.thomascharles.com/about_us.asp