Hi, I'm 3 years in IVA, with 23 months of £288 left + as home owner next 12 x 288 = total £10080 thinking of put an offer for F&F payment, spoken with IP ( creditfix ) and been told , there will be surely rejected anything less then what's left,
Hmm, I thought as in one lump payment I could try to offer ( let say 7-8K ) as its savening everyone's time , and money, ( in fees, etc )
So what should I do , if IP said : As we discussed over the phone, please be advised that any amount lower that fall under the payment in full amount, we will need to convene a virtual meeting with the creditors for them to review the offer.
What's your thoughts? Pls help
It is your offer to make - they have to put it forward and I personally think that the offer you are talking about is a fair one. It will be a meeting with creditors anyway and can be done the same way as your original meeting as far as I am aware.
Speak to them again and insist they put an offer forward. By the way - they will charge you £300 for doing this which will come out of your settlement.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
CF have been criticised in the courts for putting their fees before the needs of their customers and, I suspect that this has some bearing, being a percentage of your offer. But, of course, this is only my cynical head speaking.
Lower offers are often accepted, when presented properly by other IP's. The issue here is that CF can be less than enthusiastic to creditors which might lead to a rejection.
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