Hello, I have been in my IVA now for 16 months. My partner and I are sick of the ever increasing private rent increases and would like to move into our parents so that we can save for a mortgage. My IVA was set-up to pay back just over 10k. I have paid off almost 2k already including PPI back-pay. My father-in-law is willing to gift me some money to put forward as a final settlement. How much would be a good offer?
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
If you have £8k remaining this is your starting point. An offer of £5-7k might be reasonably considered.
Worst case scenario your father could always increase to £8k if a reduced offer was rejected.
However take care - if you move into the house before the variation is approved then they could decide that your contributions can increase as your expenditure will have gone down. It will then cost a lot more to reach any settlement...