Full and Final offer

[charlierothwell]

Hi guys, CF have agreed to send my full & final offer over to the creditors.

Are they likely to send offers over to creditors if they don't think they have a chance of being accepted?

I've offered £3000 to them on a £6600 IVA that I've paid 36 payments towards already at £110 a month, I feel like this is a good offer?

Also if anyone has gone through this process before with CF could they give me an idea of how long I'm likely to be waiting?

Thanks!

[Foggy]

So, assuming you have the standard 60 month IVA and are a renter, not a homeowner, you have around 24 payments left. At £110 a month creditors are looking at getting a further £2640 from you.

So ... an offer of £3,000 is generous and gets them, after the £300 extra CF will grab in variation fees, what they signed up for, while saving them 2 years of messing about with dividend payments.

CF are obliged to put sensible offers forward as it is for creditors to decide, not the IP. This one looks like it has every chance of being accepted.

Timescales are difficult to predict with Covid affecting staffing everywhere.

[charlierothwell]

Yeah that's how I worked it out I think it seems fair.

Thanks for the info, I'll keep updating with how it goes!

[Foggy]

Best of luck with it.