Paying IVA Early

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Phat_Mylo

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Post by Phat_Mylo » Fri May 13, 2016 9:53 am
Just on the chance someone may know the norms..

If you pay £190 in to your iva each month and you have 11 months left of iva. How much would a final settlement roughly be ?? I know it prob differs.

Thanks you helpful bunch!!
 
 

Foggy

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Post by Foggy » Fri May 13, 2016 10:08 am
A F&F offer would be about £2000 you could reduce by a couple of hundred, or specify that it will reduce as each payment is made in the interim.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
 
 

Lisa Thomas

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Post by Lisa Thomas » Fri May 13, 2016 10:49 am
190 x 11 = £2,090 but to be honest if you are thinking of making a settlement offer you should do it quickly as it will take a couple of months to hold the variation meeting and by then it might be academic for you to finish early.

It won't make a difference to your credit rating either. You will simply gain control of your finances a bit sooner.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Phat_Mylo

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Post by Phat_Mylo » Fri May 13, 2016 11:14 am
Thank you for your replies .. Really feel there are good helpful ppl out there .

Wife's family have suggested it to alleviate stress from her..
 
 

Lisa Thomas

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Post by Lisa Thomas » Fri May 13, 2016 12:41 pm
To be honest much of it will also depend on how quick your IP is to act - some are quite slow according to posts on this forum.

Some firms also take up to 6 months to close once the payment has been made too.

Why not have a chat to your IP about it and see what they advise?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

linrog

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Post by linrog » Sat May 14, 2016 7:26 pm
i cannnot fault harrington brooks they were speedy quick within 28 days had date for my variation meeting then was accepted funds paid over and cc received 6 weeks later
full final paid over 29/2/16 cc arrived 12/4/16 its all over
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