full and final offers

loves*her*boys

hi there, newbie here!
over last few weeks i have found out that my hubby has been robbing peter to pay paul for sometime (and keeping it from me as last few years i have struggled with postnatal depression and stress) and now we find ourselves with nothing left to rob from peter so the truth has come out, 45 -50k of debt!!!!!!
Needless to say it was a big shock and has taken me these past few weeks to get a grip of things and i can't tell you what a comfort this site has proved to be in that time.
sorry to ramble on i will get to my questions eventually.....
So we have spoken to a couple of the free advice sites this forum recommends and are in process of opening a coop cashminder account and cancelling some dd etc and waiting for the subsequent phone calls and letters.
Our families have rallied around once they were made aware of situation and thanks to them we are in the position of being able to offer full and final settlements to the creditors.
However, and here is the question eventually, we found a template by which we could make our own offer to each creditor at a rate of 33p in the pound without going through it with an I.P and i am worried as to what the chances of these being accepted are? and even though the letter downloaded from the national debt helpline says that if they accept the offer there are no comebacks later for more money is that the case and legally binding etc or should we have just done the full and final iva through an ip?
so confused at the moment any advice will be greatfully recieved x x

CH27

I don't know so i've bumped this in case someone else does.

Pott5y

As long as you do not make any payments until you have written confirmation that:
1. the offer has been accepted in full and final settlement
2. your released from all liability for the outstanding amount
3. that neither your creditor nor any associate company will take any other action to enforce or pursue this debt in any way whatsoever

then you will be covered legally.

Another tip is to make any payments (when accepted etc) via a 3rd Party. ie get a family member to make the payment on your behalf.

You could post any replies on here and someone will advise you or National debtline are brilliant and you can call them if you receive an acceptance letter and they will advise you whether it is ok or not. You must do all correspondance in writing and keep all correspondance for at least 6 years.

As for whether your offer of 33% will be accepted well that completely depends on who your creditors are, how much you owe, whether you have missed any payments or the account has been defaulted, passed on to a DCA, how long it will take you to clear the debt etc,etc. All you can do is try!!

Good luck

loves*her*boys

thankyou, no missed payments until this month once the cancelled dd come back, so hoping that will leave us in a better position,
as well as the template letter to each creditor we have sent our bills and expenditure sheet with what comes in and goes out and assetts and such to give them a clear idea what we have (or in our case dont!!)
just keeping fingers crossed at mo x