F&F & variation meeting date finally set!

6 posts Page 1 of 1

K1ndne55

Posts: 5
Joined: Thu Feb 18, 2021 8:59 pm

Post by K1ndne55 » Thu Feb 18, 2021 9:09 pm
Hi all,

I have been reading up on all posts for some time and have found all your advice so incredibly useful! So thank you from afar!

I started my IVA in January last year. I have no assets. With everything the past year has brought us, I am proud I was able to succeed in my first year of the IVA! Well done to everyone else too!
However I would like to get out of the restriction now if I can. Therefore have offered a F&F.

I have 44 x £80 = 3520 payments left and have offered £4000.

Meeting is scheduled for the 22 March, I just got confirmed today!! So Fingers crossed! I’m so nervous and really hope it goes through ok! Xx

Foggy

User avatar
Forum Expert
Posts: 32296
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Feb 19, 2021 10:19 am
That is an excellent offer, based on the expected return. Your lower payments make running the IVA relatively expensive for both the IP and the creditors. They both stand to get a better net return from a lump sum.

Best of 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

K1ndne55

Posts: 5
Joined: Thu Feb 18, 2021 8:59 pm

Post by K1ndne55 » Fri Feb 19, 2021 10:34 am
Thank you foggy! I’m beyond nervous as I just want a fresh start and have this behind me 😬😬

The IP report did say that the pence per pound was increased by my offer. So I’m crossing my fingers that they say yes! Xx

K1ndne55

Posts: 5
Joined: Thu Feb 18, 2021 8:59 pm

Post by K1ndne55 » Mon Mar 22, 2021 9:22 pm
Hi all! Just thought I would let you all know that my f&f offer got accepted today and I’m over the moon!! 💗

luluj

User avatar
Forum Expert
Posts: 11069
Joined: Sun Dec 09, 2007 6:54 am
Location: United Kingdom

Post by luluj » Tue Mar 23, 2021 3:04 am
Great news. Now you can focus on new start and await for all to drop off your credit files. Onwards and upwards now - no looking back.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Foggy

User avatar
Forum Expert
Posts: 32296
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Tue Mar 23, 2021 7:35 am
Great to hear. Congratulations :D

Onward and Upward :D
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
6 posts Page 1 of 1
Return to “full and final settlements”