Full and Final offer

Get expert opinion. This is the place for new questions to be posted.
7 posts Page 1 of 1
Chrissmudger82
Posts: 2
by Chrissmudger82 » Wed Sep 27, 2017 10:56 am
I’m currently ten months into my IVA, I pay £153 a month this is my second IVA my last one failed after two years . My dad is willing to put a full and final offer in for me. The total payments left on the IVA is £7650 my dad says he is willing to offer £6500 as a final offer how likely is this to be accepted considering I have already failed one IVA and also I need to
Leave the army as I’m going to be having my daughter full time so my salary will reduce dramatically once I leave . Is this a good offer or not ?

Regards Chris
User avatar
sheraz.butt
Industry Expert
Posts: 153
by sheraz.butt » Wed Sep 27, 2017 11:19 am
The offer seems quite reasonable. I would speak to your IP as they will be able to let you know if this will be accepted.

It is a big portion of what is left so I don't see why not but definitely check with them.

Hope it goes through for you!!
User avatar
kallis3
Forum Expert
Posts: 72034
Contact
by kallis3 » Wed Sep 27, 2017 11:25 am
You could always try a lower offer initially but make sure your IP knows the money is only available for a full and final and will not be available if not accepted.
User avatar
Foggy
Forum Expert
Posts: 24126
Contact
by Foggy » Wed Sep 27, 2017 11:27 am
In view of the savings they will be making in administration costs over the rest of the term and the potential change in circumstances it looks like a good offer to me.
redboxtree
Posts: 90
by redboxtree » Wed Sep 27, 2017 2:44 pm
Just be careful if you are with Payplan - based on a recent post they seem to have a unique way of dealing with these types of offers and do not conform to timescales that may be in your agreement.
User avatar
Keith White
Industry Expert
Posts: 143
by Keith White » Wed Sep 27, 2017 4:55 pm
I agree - and especially with your income reducing, there is a fair chance that your IVA will fail again once the drop in income hits. Again, it makes a full & final offer all the more attractive to creditors.
Chrissmudger82
Posts: 2
by Chrissmudger82 » Wed Sep 27, 2017 9:36 pm
Cheers guys , I think I will go in with it reduced first see if they accept lower
7 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: kallis3 and 30 guests