Hi, I've made a full & final offer to my creditors of £9,300. This is calculated from 43 months remaining @ £214 p.m. Therefore my creditors would receive what they signed up for including allowing for the extra year. Unfortunately they have rejected the offer stating that this would return 27p in the pound when they were expecting 52p. I would appreciate some advice on what my next step needs to be. I am remortgaging to allow this to happen and have a mortgage in principle in place.
I imagine that their line of thinking is that, as you obviously can remortgage, that you should, as per the originally agreed terms and continue to make the agreed payments, thereby increasing their dividend. A F&F based on something they are entitled to get anyway is not that attractive.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks for the replies. I have spoken to stepchange and they have stated that they are working on the basis that when I remortgage my equity share will be around £16000. My IP has asked if I'd like to make a higher offer. Do you think they will consider a new offer and will a new variation meeting need to be arranged.
