Full and final offer

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kyle197

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Post by kyle197 » Tue Nov 17, 2020 4:29 pm
Hi I am currently just coming upto completing my second year of my IVA. I originally signed with Vanguard but that has now been transferred to Ebenegate. I have recently been offered a gift to help settle my IVA early. What will my donator need to supply for this. They are willing to pay the full amount owed on my IVA.

Thanks in advance.

Foggy

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Post by Foggy » Tue Nov 17, 2020 5:57 pm
What do you mean by "They are willing to pay the full amount owed on my IVA" ?

The full amount (and what Ebenegate might well try for, given their business connections) is the balance of the full original debt, plus fees and sometimes statutory interest. What is normally offered is a full and final offer, based on remaining payments.

Usually they need to see a letter of offer from the donor, along with proof of their I.D and evidence of the existence of the funds. It is common practice for the funds to be transferred, in due course, direct from donor to IP, NOT via your bank account. It is best to make clear that this money is not a gift to you (such a gift could be sucked into the IVA without settling it), but it is for the purposes of the F&F offer only and, if the offer is rejected, will be retained by the donors.
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

kyle197

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Post by kyle197 » Sun Nov 22, 2020 11:54 am
Thanks Foggy, yes what I meant was they are offering to pay the remaining payments that
I still have to pay. It’s worth a shot. Ebenegate don’t seem to have much online in terms of them as a company which is concerning.

Foggy

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Post by Foggy » Sun Nov 22, 2020 12:12 pm
Ebenegate are a Mauritus based arm owned by Creditfix and seem to be an administrative organisation. Have a read here: https://debtcamel.co.uk/major-changes-a ... customers/
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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