Full & Final offer

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lewis579
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by lewis579 » Mon Sep 24, 2018 5:17 pm
Hi there I was wondering if you could give me some advice on my Iva .
I have made 3 payments so far into my Iva totalling £300 . I currently have £8100 worth of payments left to make , if a third party was to gift me £8100 as a full and final settlement what do you think my chances of it being accepted are ?
Many thanks
Lewis
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Foggy
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by Foggy » Mon Sep 24, 2018 5:23 pm
lewis579 wrote:
Hi there I was wondering if you could give me some advice on my Iva .
I have made 3 payments so far into my Iva totalling £300 . I currently have £8100 worth of payments left to make , if a third party was to gift me £8100 as a full and final settlement what do you think my chances of it being accepted are ?
Many thanks
Lewis


Considering that they will be getting everything they signed up for as well as saving a chunk in admin costs processing small dividends over the next 5 years, I would think they would jump at it.
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luluj
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by luluj » Tue Sep 25, 2018 5:05 am
It sounds a good offer to me and as foggy says it will give what is expected.

However, be prepared to explain why now .... what has changed in your life to have this offer now - are you facing redundancy; a change in circumstance etc. And remember the iva will remain on your file for 6 years from the start date whether the f&f is approved or not.
Let us know how you get on
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Lisa Thomas
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by Lisa Thomas » Tue Sep 25, 2018 9:40 am
I think you could offer less (initially to test the water) given the savings in time and administration if the IVA was completed early.

Try for £6k.
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Lisa Thomas
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by Lisa Thomas » Tue Sep 25, 2018 9:40 am
...but don't let them know the 3rd party can afford more than that or they will want more.
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