Full and final offer

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barassic

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Post by barassic » Thu Mar 01, 2018 1:57 pm
Hi all , what difference , if any , would it make if my equity has been miscalculated by tens of thousands of pounds. Have creditors meeting date but IVA company say to go ahead with meeting and if rejected then they would address equity situation. To submit papers again would take approximately 5 weeks. Not impressed !!!

Foggy

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Post by Foggy » Thu Mar 01, 2018 2:24 pm
In real terms if equity is over £5k the equity clause will kick in, if under £5k it will not. This means either an extra 12 months or not --- the actual amount of equity, otherwise, is not important unless you actually do remortgage or otherwise release equity. .
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

barassic

Posts: 57
Joined: Sun Oct 29, 2017 5:54 pm

Post by barassic » Thu Mar 01, 2018 2:30 pm
Thanks Foggy. Equity is over 5k so I factored this into full and final offer . In your opinion ( no pressure ) should I just go for original date of meeting and deal with this of rejected.

Foggy

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Post by Foggy » Thu Mar 01, 2018 2:36 pm
barassic wrote:
Thanks Foggy. Equity is over 5k so I factored this into full and final offer . In your opinion ( no pressure ) should I just go for original date of meeting and deal with this of rejected.

I can't make that choice -- but, if I were in your shoes, given the promised support of your IP in offering to sort it out, I would see how the already arranged meeting plays out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/

barassic

Posts: 57
Joined: Sun Oct 29, 2017 5:54 pm

Post by barassic » Thu Mar 01, 2018 2:40 pm
Thanks Foggy
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