IVA F & F Settlement

MUM40

Great news,
we are also thinking about doing a F&F
our IVA total payment will be 18K
paying 0.27 per pound
we are just 12 months into IVA paying 300 per month, and have also paid around another 2K in additional overpayments,

can probably get access to around 3 - 5 K borrowed from daughter, so not sure what to offer.
Have paid 3600 plus around 2 K overpayments.
Do you think 3K would be enough for F&F offer?

pwatts1977

hi all

i have an iva and so far have made 45 out of 60 payments. seeing this thread as got me thinking about trying to clear it quick by offering them an amount to clear it. looking at the payments of my iva i have around 2700 left to pay. what would you recomend.

mfs1959

MUM40 wrote: »

Great news,
we are also thinking about doing a F&F
our IVA total payment will be 18K
paying 0.27 per pound
we are just 12 months into IVA paying 300 per month, and have also paid around another 2K in additional overpayments,

can probably get access to around 3 - 5 K borrowed from daughter, so not sure what to offer.
Have paid 3600 plus around 2 K overpayments.
Do you think 3K would be enough for F&F offer?

Why offer anything? After all you're just looking for a quick way out of repaying the money you owe.

quiz_2

This is absolutely shameful - taking such delight in cynically avoiding paying back the colossal debts which you all ran up, but are not prepared to honour. I cannot believe the apparent glee in these posts. How about making sure you pay back everything you owe, over time, rather than fleecing others in order to duck taking responsibility for your own !!!!lessness?

Anondebtadvisor

When proposing a F&F offer in an IVA creditors will want as close to the original dividend as possible.

Pwatts1977 £2200 should be an acceptable offer but will depend on creditors, speak to your IP to get further advice.

MUM40 unless you have a change in circumstances that means you can no longer pay your £300 i doubt it will be accepted

Anondebtadvisor

negative comments are not helpful and we should not judge other posters!

When an IVA is accepted the only other option for a debtor is bankruptcy, creditors receive a better return in an IVA than in BR so i dont see how it is "shamefull"?

An IVA is a way of paying back what you can afford and is ultimatley for the creditors to decide if they accept the offer......

quiz_2

'Negative comments are not helpful'? So we should just all be jolly and commend everyone's behaviour, regardless of whether it is right or not? I'm advising these people to do what is right, rather than what leaves them with the most money; that is not a negative comment.

I appreciate the nature of an IVA. I know a family member who had one. It wasn't an alternative to bankruptcy - it was simply a way of paying back less than she owed. She has since run up £10k of credit card debt, spending money she doesn't have.

Half of the posters here are simply looking for an opportunistic way to pay back as little money as possible - 'if I make a really low offer, I wonder if it will be accepted'. This doesn't sound like 'paying back what you can afford' - more like 'paying back what you can get away with'. That's what's shameful. One of them even has a mortgage still. Presumably if she were to sell her house she could afford to pay off her debts in full.

dodgydaz

quiz wrote: »

'Negative comments are not helpful'? So we should just all be jolly and commend everyone's behaviour, regardless of whether it is right or not? I'm advising these people to do what is right, rather than what leaves them with the most money; that is not a negative comment.

I appreciate the nature of an IVA. I know a family member who had one. It wasn't an alternative to bankruptcy - it was simply a way of paying back less than she owed. She has since run up £10k of credit card debt, spending money she doesn't have.

Half of the posters here are simply looking for an opportunistic way to pay back as little money as possible - 'if I make a really low offer, I wonder if it will be accepted'. This doesn't sound like 'paying back what you can afford' - more like 'paying back what you can get away with'. That's what's shameful. One of them even has a mortgage still. Presumably if she were to sell her house she could afford to pay off her debts in full.

+10000

I am shocked at the sentiment on here that someone who owes over 40K is now only going to pay back a fraction of what is owed.
Why the hell do I bother working?
I have debts, not much, but I work all the hours I can to pay back what I owe. I have never even considered doing what people on here are cheering about.:(