Final settlement

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Donna.h

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Post by Donna.h » Fri Aug 14, 2015 10:12 am
we have 8 months left to pay @ £375 = £3000 would we have to pay this up front to settle or what could we offer as FF?
 
 

kallis3

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Post by kallis3 » Fri Aug 14, 2015 10:32 am
Hi,

To be honest by the time you sort out a full and final it may be close to the end anyway. Is there any reason you want to try and finish early (apart from the obvious one of wanting to be free of the IVA!)
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.
Bob Marley.
http://kallis3.blogs.iva.co.uk
 
 

Donna.h

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Post by Donna.h » Fri Aug 14, 2015 10:35 am
no not really, just to get it finished - is it better to let it run its course at this late stage?
 
 

Michael Peoples

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Post by Michael Peoples » Fri Aug 14, 2015 10:36 am
Some firms are taking an age to call variations and on another thread a poster was told it would be December so it may depend on who you are with. The IP may have the discretion to accept the money and close it down without a variation especially if you do not pay bonuses, overtime etc which may be a justification for keeping the file alive.

You should have a chat with your IP but it is a possibility and I would think our IPs would likely allow this.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
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If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Donna.h

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Post by Donna.h » Fri Aug 14, 2015 10:38 am
ok, would it look better on credit file to settle early or any other advantages at all? or we may just leave it to run its course, its not long 8 months.
 
 

kallis3

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Post by kallis3 » Fri Aug 14, 2015 10:44 am
It won't make any difference to your credit file as it will remain on there for the full six years.
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.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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