F&f offer! Advice needed

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La456

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Post by La456 » Thu Dec 14, 2017 2:12 pm
Hi any advice would be appreciated.

I currently have £6,400 left to pay into my iva, with 27 months left. Paying £240 each month. I have just found out i am pregnant, due in july 18. I currently live at home with my parents but i Now have to move out and me and my boyfriend have to find a place of our own. Therefore my dad has offered to pay £3,000 as a gift to end my iva early so i wont have the stress of my iva whilst pregnant, and as i will need as much money as i can for the baby, i will also be paying for the costs of a house, rent, bills, etc. I have informed my iva company who are saying they wont put the offer to my creditors as they will only accept the full £6,400 and £3,000 is to low. Is there anything i can do, as i have read lots of stories online where people have been accepted for offers they put in. They are not very helpful, they always say they will phone me back but never do. I am so worried that my iva is going to fail as i wont be able to pay anything in a couple of months when we find a house to rent and when our baby is born as all of our wages will be used to pay rent, bills etc.

Lisa Thomas

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Post by Lisa Thomas » Thu Dec 14, 2017 2:51 pm
Your IP is wrong. They have a duty to write to creditors within 21 days of receiving any variation request from you.

It is not for them to decide what creditors will and won't accept, although they can of course recommend to creditors and give their opinion.

You might be better placed to wait until you have moved so you can should your revised available monthly surplus and potential reduced future contributions to convince creditors that £3k will be an attractive offer.

I suggest you politely point out the variation terms in your IVA to your IP and that you understanding is that creditors decide on whether to accept, not the Supervisor...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post by Foggy » Thu Dec 14, 2017 3:16 pm
Sounds like you are with CF -- but I could be wrong ! If you are you will be denied direct contact with your IP -- but I would suggest writing to him or her, direct, by recorded delivery (keeping copies) making the offer and explaining the circumstances. As Lisa says whoever took your call is wrong.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

La456

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Joined: Thu Dec 14, 2017 1:46 pm

Post by La456 » Fri Dec 15, 2017 12:46 pm
Lisa Thomas wrote:
Your IP is wrong. They have a duty to write to creditors within 21 days of receiving any variation request from you.

It is not for them to decide what creditors will and won't accept, although they can of course recommend to creditors and give their opinion.

You might be better placed to wait until you have moved so you can should your revised available monthly surplus and potential reduced future contributions to convince creditors that £3k will be an attractive offer.

I suggest you politely point out the variation terms in your IVA to your IP and that you understanding is that creditors decide on whether to accept, not the Supervisor...


I rang my iva company again and did what you advised. They are putting the offer to my creditors today. Thankyou for your help

La456

Posts: 4
Joined: Thu Dec 14, 2017 1:46 pm

Post by La456 » Fri Dec 15, 2017 12:47 pm
Foggy wrote:
Sounds like you are with CF -- but I could be wrong ! If you are you will be denied direct contact with your IP -- but I would suggest writing to him or her, direct, by recorded delivery (keeping copies) making the offer and explaining the circumstances. As Lisa says whoever took your call is wrong.

You are right the company is credit fix. Thankyou for advice, they are putting my offer to my creditors today.

Lisa Thomas

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Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Mon Dec 18, 2017 10:09 am
Good news, best of luck.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk

Foggy

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Post by Foggy » Mon Dec 18, 2017 10:16 am
La456 wrote:
Foggy wrote:
Sounds like you are with CF -- but I could be wrong ! If you are you will be denied direct contact with your IP -- but I would suggest writing to him or her, direct, by recorded delivery (keeping copies) making the offer and explaining the circumstances. As Lisa says whoever took your call is wrong.

You are right the company is credit fix. Thankyou for advice, they are putting my offer to my creditors today.

Good luck.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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