What is a satisfactory offer for F&F?

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mark984
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by mark984 » Wed Jan 03, 2018 10:03 am
I'm 6 months into an iva and I have been offered by a family member to give me a full and final payment. I currently pay £253 per month. What would do you think would be a satisfactory offer.
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Foggy
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by Foggy » Wed Jan 03, 2018 11:02 am
Assuming a 5 year IVA with no equity to address, you are looking at a further 52 payments, currently at £253. So ... your creditors are expecting to see around £13k over the next four and a half years. I would go in with an offer of around £10k. But, as I always mention, I have seen low offers accepted as well as high ones refused. Much will depend on the support from your IP.
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Lisa Thomas
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by Lisa Thomas » Wed Jan 03, 2018 3:22 pm
I agree with Foggy. Best of luck.

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kallis3
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by kallis3 » Wed Jan 03, 2018 4:34 pm
Good luck with your offer - just make sure you mention that the money is only available for a full and final and will be withdrawn if not accepted.
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