Hi. First you need to make sure that your own IP is one of those who regards compensation for pain and suffering in the same way as it is usually treated in bankruptcy and will allow you to keep it ... some IP's treat the whole award as a windfall and payable into the IVA.
That established, a reasonable offer should be based upon the number of payments remaining multiplied by the current monthly amount. This can be rounded down a little to reflect savings in administration costs going forward.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
