Reasonable Offer?

[keh]

Hi All

I've been reading the forum about F&F and got to thinking!!

Ouch my brains hurting[8D]

After 3 years we've paid £22,050 into our iva which the forecast was to pay £33,000 inc fees. 3 of our creditors has still to come forward (total £13,000 of our £42,000 debt). Our projected payment was 57p/£.

I have been doing some figures (could be wrong knowing me[?]) and i was thinking of an offer of about £8,000 to end the iva 2 years early, this would still give remaining creditors about 70p/£.

Question 1.... Is this a reasonable offer?

Question 2.... If the remaining creditors do come forward how would that affect the above offer?

Been talking to my parents today about it and they said if it was £8,000 or less they would loan me the money.

The long and winding road will straighten out eventually....keep the faith

[Adam Davies]

Hi
Thats a fair offer and if the other creditors do not come forward then the remaining creditors would just get a higher dividend.
Go for it
regards

Andy Davie
IVA.co.uk Spokesperson and site manager
(aka Neverending)

Please check out my blog: http://andydavie.blogs.iva.co.uk

View my profile here:
http://www.iva.co.uk/andy_davie_profile.asp

[keh]

Thank you Andy.

I'll talk to my parents and get a letter from them to send of to my IP to show thats it a loan and I have to repay them back.

The long and winding road will straighten out eventually....keep the faith

[MelanieGiles]

Yes - I agree with Andy here, and would certainly put forward that sort of offer if you were my client. But I am just one of the experts on this forum, and others may have different views.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[keh]

Thank you Melanie,

I'ts just goes to show how great and useful this forum is, as I would never have thought that you could pay your iva off early. But we learn something new every day.

The long and winding road will straighten out eventually....keep the faith