Hello
I am just 2 years into my IVA, paying 500gbp a month for 39,000gbp debts. If I was to offer a full and final settlemenet, what would be a reasonable amount? I have a relative who may be willing to offer the money. Many thanks
Usually the creditors like to see an offer of near to the original dividend. I would ring your IP and ask if they can tell you how much is likely to be accepted.
How much is your relative likely to put forward?
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. http://kallis3.blogs.iva.co.uk
Best to consult your IP on this but they may ask if there is a reason you couldnt just carry on paying if you offer too little a return.
If you have paid £12k already and were expected to pay £30k back(is there an equity release to be done also?),I would have thought round the £15k to £20k would be reasonable.
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
