Final settlement

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Post by seanc » Sun Apr 11, 2010 9:06 am
Hi all, I have two years left on my iva and my parents are willing to loan me some money to make a final settlement. If I carried on paying my iva off over two years with payments of £385 per month thats £9240. Do you think my creditors will accept a final settlement of £6k or £7k???? [:)]


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Post by kallis3 » Sun Apr 11, 2010 2:54 pm
Hi seanc.

Personally, I think it sounds like a good offer. Hopefully, one of the experts will be along to advise further.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.


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Post by Shining » Sun Apr 11, 2010 4:48 pm
Hi Sean I'm guessing always nearer the actual dividend you can raise the better unless there are circumstances such as redundancy/illness that will prevent you from raising further money.

As Kallis says one of our professionals will be along very soon to advise x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by MelanieGiles » Mon Apr 12, 2010 1:18 am
The nearer you get to the £9,240 the better your chances are of acceptance - especially if there is no reason for wanting to settle apart from bringing the payments to an end.

As ever - your own IP will give you the best advice.
Regards, Melanie Giles, Insolvency Practitioner
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