Full and Final IVA Offer

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Kaybee
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by Kaybee » Thu Dec 27, 2018 9:46 am
Hi everyone,

I’ve the potential opportunity to make a full and final offer and am trying to work out what they may accept. January’s payment will be number 16 so have 44 left plus the additional 12 months at the end.
I’m currently paying £521 plus an extra £135 from additional income I receive. Will an offer based on the £521 be sufficient or will they expect me to take into account the additional payments I make?

Cheers

Karen
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Foggy
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by Foggy » Thu Dec 27, 2018 10:41 am
It depends on the source of this additional income and whether it can be relied upon as to whether they are counting on a chunk of it to be included. You also need to establish whether there will be the 12 month extension or not. Normally such offers are based on the regular payment without additional income being factored in, but do include the extra 12 months if it is at all possible that equity will be over £5k ( it is also a matter of goodwill to allow them that small victory!).
Kaybee
Posts: 4
by Kaybee » Thu Dec 27, 2018 12:53 pm
Thanks Foggy :D

The money would be coming from my boyfriend rather than inheritance etc. Presuming he’d have to give them evidence of his funds?

Karen
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Foggy
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by Foggy » Thu Dec 27, 2018 1:27 pm
Kaybee wrote:
Thanks Foggy :D

The money would be coming from my boyfriend rather than inheritance etc. Presuming he’d have to give them evidence of his funds?

Karen


Yes. Under money laundering regulations the IP will need to see evidence of the source of the funds and his identity. He will need to transfer the funds, in due course, direct to the IP, NOT via your bank account.
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