settlement

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PollyPops

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Post by PollyPops » Wed Dec 10, 2014 7:33 pm
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If my partner lent me some money to pay off my IVA early. What kind of offer could I give? Is it the full amount or would it have to be all of it?
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Michael Peoples

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Post by Michael Peoples » Wed Dec 10, 2014 7:36 pm
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You would want to offer as near to what was due to be paid as possible. If there is a change of circumstances and your surplus has dropped creditors may accept less.
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 8:50 pm
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A settlement is usually based upon the number of payments left x the monthly amount. If there is equity to be addressed be prepared to add an extra 12 months payments 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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