making a final offer to end an iva

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Post by andy.28 » Tue Sep 28, 2010 7:36 pm
When making a final offer to end an iva it is recommened You should offer as close as possibe to the original dividend !
If you have already paid ie 2 years payments
Should the offer only be for the outstanding payments ? And what happens if there is a remortgage clause in the agreement ?


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Post by Lisa2009 » Tue Sep 28, 2010 8:01 pm
Hi and welcome,

I would suggest you try to offer as close to the original agreed ammount for a better chance of acceptance.

Speaking from our own personal experience, my hubby offered 2 years remaining payments plus a lot of the remortgage ammount on top and it was accepted.

Obviously its near impossible to remortgage at the moment whilst in an IVA but if you dont offer high enough then theres the chance your creditors will want to wait and see how the market picks up in the next few years.

Circumstances also play a big part and whether or not you will be able to maintain your IVA for the remaining time.

The best answers will obviously come from your own IP as they know exactly whats expected of you with your own IVA. 'Our Story'

Nil carborundum illegitimi

Broke of London

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Post by Broke of London » Wed Sep 29, 2010 12:28 am
Read my year one annual review report to creditors today and in the appendix with payments to date, expected dividend etc was additional info I don't think I should have got...the minimum acceptable offer amount and future offer amount!! My report and annual review docs got lost in the post so they resent me soft copies (unedited). BRILLIANT! And no, I'm not going to take advantage of this.

If the offer amount doesn't mean f&f, can someone let me in on what it does mean?
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