Would a settlement offer have to cover my full original debt or the remaining balance

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Adam.n

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Post by Adam.n » Thu Aug 28, 2014 10:32 pm
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Hello,

I am currently in an IVA for debt that was £16000 for which i am paying back £10800 through the terms of my IVA. If with 18 months to go I could offer them a settlement figure (£3000) would it have to be to cover the full original debt (£16000) or for the remaining balance on the £10,800. Only inquiring as a family member maybe able to help me but it or depends on what I would need to offer them. Thank you for any assistance as is greatly appreciated.
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Michael Peoples

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Post by Michael Peoples » Thu Aug 28, 2014 11:57 pm
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You should only need to offer the remainder of your IVA payments and even knock a bit off for early settlement. £3000 seems more than enough to offer.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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