Full & final offer

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dianne
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by dianne » Thu Jul 19, 2018 5:28 am
I have approximately 20 months of my IVA left. I woukd like to make a full and final offer.
My payments are £79.50 a month. How much do you think i should offer.
This is being paid from a friend and only to pay off the IVA.
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Foggy
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by Foggy » Thu Jul 19, 2018 6:49 am
dianne wrote:
I have approximately 20 months of my IVA left. I woukd like to make a full and final offer.
My payments are £79.50 a month. How much do you think i should offer.
This is being paid from a friend and only to pay off the IVA.


Over the next 20 months (assuming that you are not a home owner) the creditors are expecting you to pay around £1600. Normally for a F@F you can round the offer down to reflect savings, but, in this case, the payment you make is almost as low as you can get and keep the IVA viable. Add in the fact that a variation meeting will add around £500 to the fees. I doubt that you could offer any less than the full amount yet to be paid (£1590) even then, to be honest, they could well say no.
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luluj
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by luluj » Thu Jul 19, 2018 1:11 pm
I tend to agree with foggy £1500 ish would be my suggested offer ....
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dianne
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by dianne » Thu Jul 19, 2018 6:39 pm
Foggy wrote:
dianne wrote:
I have approximately 20 months of my IVA left. I woukd like to make a full and final offer.
My payments are £79.50 a month. How much do you think i should offer.
This is being paid from a friend and only to pay off the IVA.


Over the next 20 months (assuming that you are not a home owner) the creditors are expecting you to pay around £1600. Normally for a F@F you can round the offer down to reflect savings, but, in this case, the payment you make is almost as low as you can get and keep the IVA viable. Add in the fact that a variation meeting will add around £500 to the fees. I doubt that you could offer any less than the full amount yet to be paid (£1590) even then, to be honest, they could well say no.
Foggy wrote:
dianne wrote:
I have approximately 20 months of my IVA left. I woukd like to make a full and final offer.
My payments are £79.50 a month. How much do you think i should offer.
This is being paid from a friend and only to pay off the IVA.


Over the next 20 months (assuming that you are not a home owner) the creditors are expecting you to pay around £1600. Normally for a F@F you can round the offer down to reflect savings, but, in this case, the payment you make is almost as low as you can get and keep the IVA viable. Add in the fact that a variation meeting will add around £500 to the fees. I doubt that you could offer any less than the full amount yet to be paid (£1590) even then, to be honest, they could well say no.


Thanks for your reply. Some useful advice. ☺
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