www.iva.co.uk

Hi.
I've been on here before re making an f&f, but now I am actually in a position to do so as some one has offered the money up....

My origninal proposal was to return 41p, but based on my payments to date its 47p, but with just under 3 years to run. The amount that is on offer will return 41p, which is the same as my original proposal.

95% of my debt has been bought by max recovery.

If I can make this F&F offer of 41p how likely is it to be accepted?

Thanks.

Not an expert but depending on the reasons as to why you want to offer a F&F it sounds possible and a good solid offer. Ensure your IP knows that this money is only available for the purpose of a F&F and that your friend will not lend it for any other reason.

Please note though that even if accepted your credit rating will still be dire for six years from the day of your IVA starting !

However you will not have the worry of the tight budget - although repaying your friend will need to take place!

Good luck with it !

Hi Aaron, if you are offering to meet the original agreed dividend then it sounds like the makings of a good offer.
I'm sure creditors would be happy to have the money up front now rather than in 3 years especially in the current climate.

From my own experience, I would have thought that this represents a very good offer and one which Max Recovery are almost bound to accept. As they own 95% of the debt, your IP may be able to get their agreement by way of a letter rather than going to the expense of calling a variation meeting as well.

Let us know how you get on.