How much should I offer?

[Badwitmoney]

Hi all, new to this forum but looking for advice on my IVA and f&f settlement. My circumstances seem quite simple really, i.e no houses, or weird clauses. I simply want to know what would be a reasonable offer.

I am looking to settle using a grant from the armed forces as I come to the end of my engagement (12 years) it will be about £9500 expected end of april 2010.

By that point I will have 8000 approx left of my iva balance (18 more monthly payments).

I rang up to ask my IP this question (for a 2nd time lol) they are sooo vague, however she did say their fee is 25% and creditors get 45p in the £ based on the iva repayed in full & running 5 years.

What should I offer? I really need this money towards a house/rent in civvy street but also equally need to rebuild my credit rating by wiping this iva out asap.

I look forward to your replies.

[MelanieGiles]

Hi there and welcome to the forum

Fees of 25% for putting forward a variation - nice work if you can get it! Which firm are you with?

You may find that this money is already captured under the terms of your arrangement as a windfall, unless it was specifically excluded within your proposal. I would check that point out first before you rely on the money to actually settle the IVA.