Too Soon?

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Ap2026

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Post by Ap2026 » Fri Nov 27, 2020 4:07 am
I am only 3 months into my Iva but my mother has recently come into some money and has offered to pay off my Iva. I do have reasons why I want to leave now just not comfortable sharing them on a public forum.
I’m happy about that as it would mean I don’t have to deal with annual reviews and I’m happy staying on the register for the 6 years to stop me getting into bad habits again.
is it too soon for me to be offering a full and final?
I currently have £6105.40 outstanding to pay would you think an offer of £6000 be wise or slightly above the outstanding like £6200?

Foggy

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Post by Foggy » Fri Nov 27, 2020 8:45 am
I would say your £6k offer would be seriously looked at, amybe even £5k for an initial offer. Some IVAs are worded so as not to allow early settlement within the first 6 or 12 months, so you will need to check this.
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

Ap2026

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Joined: Thu Nov 26, 2020 4:11 am

Post by Ap2026 » Fri Nov 27, 2020 8:49 am
I would t want to leave it to chance with 5 I will offer the 6.
I’m with Creditfix, I can’t find any clause. In my chairmen’s report or anywhere else

Ap2026

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Post by Ap2026 » Wed Dec 02, 2020 5:35 am
Update,
Tuff getting to speak with someone at CF. But emails are exchanged now and I’m making an offer of £6200 to account for the £300 fee. They advised me to make an offer of at-least £6500 but unfortunately my mother can’t afford that much.

luluj

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Post by luluj » Wed Dec 02, 2020 6:50 am
By the time it gets approved you will have made another payment anyway of not two, so you will be at the 6500k mark anyway.

Hope it is sorted for you quickly.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"

Ap2026

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Joined: Thu Nov 26, 2020 4:11 am

Post by Ap2026 » Tue Jan 12, 2021 11:55 pm
Just an update,

So in the end i offered £6200 back in December. that went against creditfix's recommendation of £6500.

My review was set for 12/01 (today). During this time i did not have to make any further payments which was nice (paid weekly)

and it was ACCEPTED :D :D :D Just getting my mother to make the payment now over the next couple of days.

i hope this thread can help others looking for answers

I just wanted to add my circumstances were i don't own a home, land or hold any equity in anything so i know that would of swung things in my favor.

Foggy

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Post by Foggy » Wed Jan 13, 2021 8:40 am
Excellent news to start this new year with. Well Done !
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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