can you contact the IP and settle IVA early?

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steve_c7

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Post by steve_c7 » Wed Aug 20, 2008 7:17 am
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Hi, if you enter into an IVA and say after a year you still owe 48 payments x £200 (£9600) - and say a parent gave you the £9600 can you contact the IP and settle ?
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Kazzy E

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Post by Kazzy E » Wed Aug 20, 2008 7:28 am
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Hi there earlybird. You will need to check your report Steve to find out whether it states that there is a minimum period at which you can offer an F&F and you will need to convince the creditors as to why they should accept a full and final over getting near to the original amount owed. If you speak to your IP, they should be able to give you a settlement figure including their fees and advise you about your particular case. Good luck Kazzy x
There is light at the end of that dark tunnel. Promise.

Visit my blog at: http://kazzy.blogs.iva.co.uk/
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Kazzy E

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Post by Kazzy E » Wed Aug 20, 2008 7:29 am
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Steve, just found this, have a look, it may help you. Kazzy x


http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=14626
There is light at the end of that dark tunnel. Promise.

Visit my blog at: http://kazzy.blogs.iva.co.uk/
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MelanieGiles

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Post by MelanieGiles » Wed Aug 20, 2008 8:32 am
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There should be no problem in offering that sort of settlement Steve, but as Kazzy says the answer really lies with your own IP.
Regards, Melanie Giles, Insolvency Practitioner
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