Negotiated settlement offers

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cda714

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Post by cda714 » Tue Nov 24, 2020 5:16 pm
Are there any organisations/companies that can negotiate settlement of IVA’s for you. My Iva is for equity release within 2 years by either remortgage or third party introducing funds. If not, it is to be sold by month 30. They are expecting £100k from sale of property. I can’t remortgage but family can introduce funds of £65k. I need help making this an attractive proposition particularly in this current climate!

Foggy

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Post by Foggy » Tue Nov 24, 2020 5:23 pm
Your IVA sounds far from the usual terms and so it will be difficult to advise !

Usually what you need to do to end early is to make a Full and Final Offer -- usually based on the anticpated remaining payments plus 12 months payments in lieu of equity release.

In any event the first thing is to have a chat with your IP.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

cda714

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Post by cda714 » Tue Nov 24, 2020 5:31 pm
I’ve discovered today there are protocol and non protocol IVA’s and mine appears to be non-protocol!

We have been approached by a company by Bell & Co who call themselves debt strategists who advised they could help negotiate but want a hefty fee. Not sure if they are legitimate or if there were others who provide this service as well

Foggy

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Post by Foggy » Tue Nov 24, 2020 6:04 pm
I have to admit that, in 10 years, I have never come across 'Debt Strategists', so am unable to comment, but, I suspect, probably do what you can do yourself (like claims companies).

Usually the debtor will have a chat with their IP and the IP then presents the ensuing offer to creditors (for free in most cases). Getting the IP 'on side' means they will present the offer in it's best light and, as they did in my case, recommend acceptance.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk
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