What should I offer if I am in a position to make a final figure, taking into account IP fee ?

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Dharm

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Post by Dharm » Wed Dec 10, 2014 4:43 pm
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Hello I am paying £465 per month to my 6 year IVA. July next year will be my 3 year point. I will then owe £16740.
If I am in a position to pay a final figure next July, what should I offer, taking into account IP fee?
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Michael Peoples

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Post by Michael Peoples » Wed Dec 10, 2014 4:46 pm
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The IP fee will have been included within the payments anyway so anywhere close to what you were due to pay should be acceptable.If you have equity in your property you may need to factor this in too as an extension could have been made so speak to your IP who will know your case.
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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Foggy

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Post by Foggy » Wed Dec 10, 2014 4:50 pm
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The starting point for a full and final settlement is usually the number of payments you have left x the current monthly amount.

If there is equity to be looked at then usually an extra 12 months is added in lieu.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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