Can we ask for a full and final. We have been offered a sum of money from close relative to help pay full and final settlement. We are currently paying £390 per month and will be in our iva two years in February. Any idea on what would be the settlement payout and if this is possible?
Its your right to ask your IP to offer a settlement figure. It should be based on monthly payment x months left plus any equity release clause you may have.
You could offer slightly less to counter an early offer ...you may need tp explain any specific circumstances that has caused you to seek early settlement and your relative should make it very clear that the money is only available for the purpose of closure of your iva
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
