i have a iva which at the start was agreed at 13,200.after 2 years payments of around 230 per month,i have been asked by my parents if they can help to pay the remainder off,but i am unsure how to go about calculating this,is there a set of criteria to go about this,many thanks for any help youcan give
I aimed to offer a similar dividend as per my original agreement. Some of my debts had changed (Lloyds had refunded me £4K, my wife had settled a joint debt fully of 2K). I took off the fees to date, factored in the cost of the variation meeting, and fees saved and suggested £6500 to my IP.
They came back with £6,600 so wasnt far off.
So all was comleted in April. Good job really as my employers have just gone bust. JSA for me now
My advice is always to try and make the best offer possible, and as PBH says above the nearest you get to the original dividend the more you are likely to get accepted.
