I'd contact your IP & ask how much is left to pay on your IVA. Then you'll have some sort of idea as to what f&f settlement your creditors might consider agreeing to.
Good luck hun
H
Your creditors would normally want to see as close to the original dividend as possible, but will accept less sometimes.
Work out how much you still have left to pay and make an offer based on that.
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.
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Yes depending of period left you could expect a "discount" of betwenn 10% and 12%
Last edited by David Mond on Wed Mar 18, 2009 8:59 am, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
You would pay back the total debt amount, perhaps with statutory interest which runs at 8% per annum, plus the accrued costs that your Supervisor has incurred in running the IVA to date.
Statutory interest will only be charged if your proposal provides for this - and these days the majority do not.
