advice on my settlement figure for my IVA?

[mrbiggles]

I was hoping that you could give me some advice on my settlement figure for my IVA. The agreement was based on 18k which was at 27p in the pound. I have been in my IVA for 2 years and have asked for a settlement figure as I am finding the IVA quite restrictive.

Some background info....
I am self employed and am struggling with my business partner to set up a new company. Because of my IVA I have no connection with any of the banking, I am not a director and my shares in the company have been restricted to 29%. I feel it is time to sort things out and my girlfriend has offered to pay the final payment. My IP has told me that my final should be 7750. I am not sure that my partner could pay that much but could come close to that figure.

I guess the question i need asking is, if you can answer it, how close to that figure should I get? I know that is a pretty open question but your advice would be greatfully received.

Great website, loads of info that I have struggled to find since commencing my IVA

Thanks in advance

[Adam Davies]

Hi
I think that you are paying £300 per month and you have three years left.So the remaining payments would be £10800.There would be a saving on IP fees but a variation meeting charge.The figure of £7750 seems very fair and I would try to offer that to be sure of success.
Good luck

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

If your IP has suggested a figure, and you can raise almost all of that, then give it a go.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp