Just an update. Hubbys settlement of his IVA went through with no problem, just awaiting completion certificate. I was not so fortunate. I offered £5000 as full and final. I had 18 payments (12 from year 6). Of £280 left which would be £5040 in total. I thought £5000 would be okay. When I rang I was...

Hi Foggy This is what was sent "Good afternoon, Hope you are doing well. Please note that the figure needed to pay off the full debt level plus insolvency fees of Mr Xxxx xxxxxx is £22,398.10. After receiving this amount, the case will be closed. Do not hesitate to contact us for further details. I ...

Thanks I will use the template and send in what they have requested. Fingers crossed it’s accepted.

Thanks Luluj. If it’s the full amount is it still classed as “full and final”? Does anyone have any tips on how I word it?

When they do send me one I am not entirely sure I would understand it properly. I am not a stupid person but some of it I can’t make head nor tail of. Could I try a little less say £20000 or would they even accept it. Or is it easy just to cut our losses and pay up. I am not even sure how to do it. ...

Thanks for the reply Foggy. That sounds like just under a £2000 difference. Do you think it’s worth asking about it. At 51 I don’t know wether he will be able to secure a job and we are still in a mortgage so I am trying to keep as much as possible while satisfying what we need to. He was also think...

My circumstances keep changing so fast I am getting whiplash. My husband has just been made redundant and his settlement was £57000. We are 4years and 4 months into both our Iva’s. I understand that this has to be paid to the IVA so I was advised to offer a full and final of 100p in the pound. The o...

Do you mean the remaining mortgage term is 7 years at 155? Originally you said you had a year left of the IVA at £310 per month (plus an extra year for the extension). The IVA contributions in the 12 month extension period will be the same as you pay now (i.e £310), as long as there are no material...

Thanks Lisa and Foggy. I am also a bit worried about the equity of £150000 in the property. I am not sure if we could remortgage and even if we could as I plan to retire I will be on a much reduced income. When they ask you to release equity is it for the original sum you owed e.g. £30000 or for IV...

Thanks Kalis feeling much better now and back at work.

Thanks Lisa and Foggy. I am also a bit worried about the equity of £150000 in the property. I am not sure if we could remortgage and even if we could as I plan to retire I will be on a much reduced income. When they ask you to release equity is it for the original sum you owed e.g. £30000 or for IVA...

So if I offer to retire how much will they take £40000 or the £7500 left in payments to IVA?

Thanks Lisa. Do you know anything about the lump sum. If I retire today for example would they take the full amount off me?

Thanks for your replies sorry been offline due to health.

Hi I will have finished 4 years in my IVA in June this year. As far as I can remember the terms were 5 years initial with a sixth if no equity is released from our property. Mortgage has about 9 years left and there is around £150000 of equity. I have been very unwell with depression over the last c...