Wondering what is the likelihood of a F&F settlement being accepted ?

[Danni.79]

Hi there, we will be two years into our iva in February. We have never missed a payment and are able to keep up with the payments ok. Recently my husbands nana has offered to gift us a lump sum to pay full and final. I am wondering what is the likelihood of acceptance and how much would this likely to be. We want to look to future and possibly buying a house in a few years . We are paying £390 a month at the minute. Any replays most welcome .

[Foggy]

Hi. Come February you would be looking at an offer in the region of £14,000 to give back what the creditors were expecting (assuming a 5 year IVA).

Creditors will often accept less if there are extenuating circumstances. But I am guessing you would be looking at something like £10 - 12K.

Even if you finish early you will not be credit worthy for at least another 4 or 5 years.