I have been paying an iva for 2.5 years and have paid in over 8000. the debt was for 32000 but my iva payments started at 240 then dropped to £225 as my income dropped.
If a family member offered to pay off my iva, could i get a reduced settlemt figure, or would it be for the full amount? Please advise as a can barely make the monthly payments.
Thank you
Based on the facts that you have provided lisa, and assuming that your IVA was set for a five year period with 30 months remaining, a figure of £6,750 would seem a good figure - but if your actual disposable income figure has reduced and this can be proven, then a lower sum may be acceptable.
Is there also a release of equity in the final year to consider in your case?
