F&F Proposal - Help!

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Post by DD2021SH » Wed Dec 22, 2021 10:52 am
Hi there,

this is my first post :)!

I am currently 20 months in to an IVA with Payplan and I pay £250per month. The total to be paid under the IVA is £18k. The expected dividend at the outset was £0.26p. Total paid to date including bonus contributions is £16,183.20. Payplan have just arranged for a creditors meeting for January whereby i have offered a further sum of £2,500 in order to settle my IVA. The expected dividend received on this basis to the creditors is £0.36p

I was just wondering whether anyone has any thoughts on this offer and likelihood of it being accepted? I appreciate each IVA is individual but any views would be welcome. The two key reasons for wanting to bring to an end is 1. my wife is pregnant with our 3rd child so really need to have as much disposable income as possible. Secondly, i work in investment and being in an IVA is incredibly frowned upon and almost certain to not get another job in this field if i lost my current job.

Any comments welcome.



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Post by Foggy » Wed Dec 22, 2021 1:26 pm
F&F offers are usually based on remaining payments, rather than hitting the original dividend estimate, but, Payplan would not have put this forward without an argument, if they thought it would be rejected. So they think it has a fair chance.

If your arrangement went to term, creditors would be looking at another £10k in their pockets (less fees). That all said, they are still getting more than they signed up for, so, hopefully will accept.

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


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Post by DD2021SH » Wed Dec 22, 2021 2:32 pm
Thanks Foggy that is really useful and somewhat reassuring. I will keep the forum posted with any update!
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