Settlement offer

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craig165

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Post by craig165 » Mon Nov 16, 2020 4:55 pm
Hi i currently have a iva with jarvis ( was apature ) and am paying £263 per month and have approx 2.5 years left to pay. Total left to pay is around £8100. A family memeber has offered to lend me £9000 to settle early. Is this a good offer and likely to be accepted or not?. Thanks

Foggy

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Post by Foggy » Mon Nov 16, 2020 5:49 pm
They should bite your hand off with that offer -- though it is impossible to predict.

Best of luck -- let us know how you get on.
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WallE

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Post by WallE » Mon Nov 16, 2020 11:42 pm
As Foggy says, that's a really decent offer and I would be surprised if you had any issues, but you never know how they'll vote on the day.

I see no reason why that wouldn't be accepted though.
I work for one of the UK's biggest Insolvency Practitioners. All posts I make are my own thoughts and/or opinion and are not the views of my employer. None of my posts constitute legal advice and should not be taken as such.

kallis3

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Post by kallis3 » Tue Nov 17, 2020 8:30 am
Good luck with the offer - keep us posted.
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size5

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Post by size5 » Wed Nov 18, 2020 1:39 pm
Hi,

Personally, I would start with a £6.5k offer. Creditors may barter you up but I can't see the point of overplaying your hand at this point.

If they accept, which I think they will as it is a 3rd party offer (see elsewhere on here for what will be needed) then you and your friend will be better off. If they don't, then you can increase a little, say, in £500 steps, until they do.

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luluj

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Post by luluj » Thu Nov 19, 2020 2:12 am
Agree with Size5 ... go in lower and see what happens.

Just remember though if approved your credit rating remains impacted for the 6 years from your iva start date.
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