IVA and F&F Settlement

Mercyknight_2

So my creditors meeting is next week, but I want some advice before it goes through.

I'd be paying back £180 for 60 months - may vary due to income etc.

That's £10,800...

Would it be worth seeing what all my creditors would settle at and then see if I can get the money and clear the settlements?

One of my family members does have money available and I'm thinking of asking them to settle my debts...

Any help would be great...

Anondebtadvisor

If you can raise a lump sum why not propose a full and final IVA instead of contributions?

angel_rainbow

A full and final IVA is a possibility, as mentioned above. You need to discuss with your IP ASAP.

milliemonster

Your creditors won't give you a figure they are prepared to settle at, it would be the full amount they want!, your IP will not give you a figure either as they have to be seen to be getting the best return they possibly can for your creditors, so as it stands, as they are putting forward a proposal for £10800, you need to be looking at as near to that as possible as a F&F sum if a family member will offer that.