hi im 4 years in to my iva and have got another 2 years remaining. I've got 26 payments of £213 to pay which is £5538 do you think i could make a final offer of half that amount?
Where are the funds coming from? Most IVAs tend to be for 5 years and only extend to 6 if the 12 month extension is applied in lieu of the equity.
Is this why you have 2 years to go and if so are you sure you have enough equity for the extra year to kick in or was it was a 6 year IVA? Was Nram one of your creditors?
Other than taking control of your finances back why do you want to complete early? Please note your credit rating will still be affected for at least 2 more years regardless.
Apart from all of that there is nothing to stop you offering creditors 50% but the less attractive the offer the more risk there is of it being rejected.
Plus there tends to be a standard £500 variation fee which will be deducted from the lump sum if it applies in your case.
Last edited by Lisa Thomas on Fri Jul 01, 2016 10:56 am, edited 1 time in total.
