Hi, I’m looking for some advice about what a full and final offer should be. I currently still owe £3600, and pay £90/month (the minimum). My income and expenditure will show that this month is not currently affordable for me as I have been furloughed for about 60% of the last year. I have used some disability benefits to plug the hole in my finances. I am keen to get this settled as I feel job security in hospitality (where I work) is low, and my Mum is Will to give me the money.
I have read that these decisions are highly subjective and unpredictable, but wandering if anyone can give me advice on an offer I should make? Is it worth starting low, or just offer the full amount based on £90/month?
On a regular payment of £90 a month creditors are getting very little return anyway, after fees have been taken care of, so you do not really have the wriggle room some others might have. On the other hand =, creditors might just be happy to see the back of an arrangement that is getting them very little anyway !
As you appreciate, this is all guesswork with these offers, but I would go in with around the £3k mark.
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