16 months to go!! Thinking of trying a F&F offer

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Bex12
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by Bex12 » Sun Oct 29, 2017 9:28 pm
Hi I have 16 months to go until my 5 years are up I have no property and haven’t missed any payments. My sister has offered me £2000 to see if it would be excepted as a F&F offer I started off paying £136 a month I now pay £218 a month due to increase of earnings! I know it takes a few months before anything would be excepted or declined so would still be paying the £218 a month. Just wondering if people thought £2000 would be an ok offer to put forward or too low? X
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luluj
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by luluj » Sun Oct 29, 2017 10:51 pm
I think its an offer worthwhile but you would need to explain why the f&f now ?

Have your circumstances changed ?

It will probably take at least 3 months to sort out if not more.
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Bex12
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by Bex12 » Mon Oct 30, 2017 7:30 am
luluj wrote:
I think its an offer worthwhile but you would need to explain why the f&f now ?

Have your circumstances changed ?

It will probably take at least 3 months to sort out if not more.

Hi thanks for your reply I have just got a new job due to childcare issues that is about 4K less a year I won’t start until Jan due to clearances etc and I was worried it would negatively impact my IVA and my sister has just sold her house and offered me to 2k to pay the IVA off if excepted!
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Foggy
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by Foggy » Mon Oct 30, 2017 7:54 am
This close to the end of an IVA makes it difficult to justify too much of a reduction in an offer as there will be little savings to be made and any that would arise would be knocked out by the variation fees. Your creditors are expecting to see a further £3488, so £2000 might be a little light. However, the interim payments will make that a little better, so I would mention them in the offer ... say three more payments due, leaving around £2834 expected. If it were my IVA I would pitch an offer of £2500. But, I have seen low offers accepted (as well as high ones refused).

Best of luck.
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