Is F&F worth a try 17 months into IVA?

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owen134
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by owen134 » Mon Apr 16, 2018 4:57 am
Hi - currently 17 months into my 5 year IVA

Paying back 250 per month and looking to offer FF settlement of 5k on top of what I have paid already

Is it worth a try
redboxtree
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by redboxtree » Mon Apr 16, 2018 6:28 am
Possibly about £2-3000 too little.
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Foggy
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by Foggy » Mon Apr 16, 2018 6:49 am
I agree with Red .... creditors are expecting somewhere in the region of twice that amount over the course of the IVA. That said, I have seen very low offers accepted (as well as generous ones, in at least one case higher than the outstanding amount, refused!).
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Lisa Thomas
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by Lisa Thomas » Mon Apr 16, 2018 8:35 am
You have c£10,750 to go so £5k might not be attractive enough for creditors to accept.

I presume you don't have any property (or relevant terms) that would trigger the year extension clause?
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