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

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owen134

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Post 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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Post by redboxtree » Mon Apr 16, 2018 6:28 am
Possibly about £2-3000 too little.

Foggy

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Post 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!).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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Lisa Thomas

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Post 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?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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