Full and final offer

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kyle197

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Post by kyle197 » Tue Jul 20, 2021 1:07 pm
Hi my friend has offered me some money to pay off my remaining Iva debt for a full and final settlement offer. I currently own £4950 to Ebenegate, what is a realistic offer for my friend to offer?

Thanks

Foggy

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Post by Foggy » Tue Jul 20, 2021 1:10 pm
Is the £4950 your remaining payments ? Do you own or rent your home ? How many payments are remaining ?
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 » Tue Jul 20, 2021 2:12 pm
They said £4950 is what I have remaining to pay. I have 34 payments or £145 left to pay. I rent my home.
Thanks

Foggy

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Post by Foggy » Tue Jul 20, 2021 2:40 pm
So, you are saving around three years of messing around. Three years of creditors accepting small, regular payments which cost them to process.
Now, with most firms we would suggest offering a lower amount to reflect these savings, but Ebenegate will push for the full amount as an offer. With most firms I would say to offer £3500 - £4000.
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 » Tue Jul 20, 2021 2:57 pm
Yeah I when I spoke to them she said to offer £5500 as it’s got a better chance of beint accepted which surprised me they wanted more.

kallis3

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Post by kallis3 » Tue Jul 20, 2021 3:13 pm
They are possibly including fees I imagine.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

kyle197

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Post by kyle197 » Tue Jul 20, 2021 3:18 pm
Yeah my friend is willing to offer £3500 but isn’t happy about sending them a screen shot of her bank balance. So will see what they say. Thanks

Foggy

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Post by Foggy » Tue Jul 20, 2021 3:56 pm
Remember --- the fees they get are directly related to the IVA payments you make ...just saying !

Ebenegate are in the same group of companies as one that has already been criticised in court, by the judge, for putting their fees ahead of the interests of the client.

On the screenshot front, all firms require evidence of the funds and the donors identity for money laundering regulations.
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 » Tue Jul 20, 2021 6:29 pm
Thanks fingers crossed my friend is happy to do it.

kyle197

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Post by kyle197 » Fri Jul 23, 2021 6:39 am
Well turns out my balance was less at 4600, I’ve put an offer in for £3500 fingers crossed they’ll accept. I’ll keep you posted!

kallis3

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Post by kallis3 » Fri Jul 23, 2021 7:13 am
Fingers crossed!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

kyle197

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Post by kyle197 » Tue Jul 27, 2021 3:01 pm
Is it normal once you have sent all the documents they request for a full and final offer ie: letter from donor, proof of funds
Etc for them company to go quiet?

kallis3

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Post by kallis3 » Tue Jul 27, 2021 3:08 pm
It can happen sometimes, give them a nudge to see how things are going.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Tue Jul 27, 2021 3:13 pm
Ebenegate are not known for reliable communication --- you need to keep chasing them I am afraid.
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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