I’m currently in an IVA and my partner has offered to help me with a full and final settlement. I have read some of the advice on here but I would really appreciate some expert advice. I’ve been in an Iva for 13 months paying £182 per month and have £8554 left to pay. Assuming it will take a few months to do the paperwork on the variation. (And 2/3 more Payment’s) What would be a reasonable amount. She has offered £6500 but I’m not sure this is close enough.
I would really appreciate any advice how F&F payments work and what is likely to be a reasonable payment to be accepted.
Thank you in advance for your time
Both creditors and IP will be saving the costs of administering the IVA and processing regular, small, dividends, over the next 4 years or so ..... so an offer of £6.5k should be looked at seriously by all parties. As you will appreciate, these things are never certain, but certainly worth a shot.
Sorry for the long delay, but I’ve finally heard back from the IVA company and they have asked for additional info (dunno why they are so slow) but I did include the statement that payments made after the date on the letter would be deducted. Is this something I need to keep an eye on myself and calculate at the payment stage if the variation meeting is successful?
I used one of Lisa’s templates on another thread - so thank you for that!
But they have have asked for additional info;
A letter from the person the money is coming from and their ID. I get the ID for money laundering, but I had already sent their bank statement to show they were paying it and stated who it was coming from in my letter - I guess my concern here is does it restart the clock on the amount (ie I can’t deduct the payment I’ve already made) or perhaps I’m being too synical?
Finally they said once it’s all received they would ‘be in touch to get you booked in for a variation appointment’ which sounds very ominous and scary. Has anyone else experienced this before? And what it entails?
Thank you as always!
I think I’ll keep an eye on the proposal, although not entirely sure what to look out for.
My expectations were similar to your experience Foggy - I had thought I’d make the offer and the Cogs would turn without my involvement.
I don’t mind attending an appointment if I have to, just apprehensive as to the format. Call it fear of the unknown!
Just an update for anyone following this thread. It might be useful info:
So I emailed across the info to aperture 2 weeks ago. No communication from them, besides a generic automated thanks for your email, which isn’t unusual.
Phoned again today to find they ‘hadn’t got the info’ even though they had some of the attachements, just not all apparently.
So they will draft the variation letter which will take 3-4 months and after that the variation meeting will be scheduled for 21 days after (assuming no amendments are requested by creditors)
I would urge anyone considering aperture, to consider carefully as they are grand when you set up the IVA but are quite difficult to communicate with and and generally very slow at responding etc.
I will update you all as soon as I hear any more.
Good luck all!
Who is onlineUsers browsing this forum: No registered users and 18 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, IVA.com Group Limited will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location