Hi. You can offer a full and final settlement, based on number of months remaining x current monthly amount (possibly also an extra 12 months if you have equity to address).
This is usually provided by a third party ( friend, family etc).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Much will depend where the funds are coming from, if your own funds then you may find that the IP will expect this money in addition to your on going monthly payments. Most settlements come from third party funds, eg friends or family
Hi can you explain ; if you contact your debt companies and your debt adds up to £10000 and you've been in your IVA for 2 years paying £305 a month .
If you can find £10000 would this pay your debt off? I would imagine you have to pay your IP?
Someone said earlier you have to pay the equivalent to the end of the term but that would be £20000 I just don't get it???
