www.iva.co.uk

Firstly, I would like to thank you for your help with regard to my husband's Security Clearance question, your replies were much appreciated. Not been able to thank you until now as my computer has been playing up.

I would appreciate some more advice please with regard to a settlement figure.

We have been in an IVA for 2 years now, our total unsecured debt was £55,066 approx, to date we have paid £22,071. After having a heart to heart with my parents, they have agreed to help us by letting us have £18,000 on the understanding that it would be to clear the IVA.

Do you think our IP will agree this figure as a final settlement? If not, what figure do you think would be acceptable. Please any advice would be much appreciated.

Personally, I think that sounds like a reasonable figure.

One of the professionals will be along later with their opinion as I could be wrong!

Hi
I would also agre with Jan, sounds a very good offer
Regards

It will rather depend upon what you are still due to pay into the IVA, and whether you have to deal with an equity release provision, but the sum looks favourable and I am sure that your own IP will be able to advise a little better.

Thank you for your replies. There is no equity as no property is involved.

We have a total of 36 payments at £870 per month left to pay.

In that case the offer is very low and unlikely to be acceptable. You must have been almost going to repay your debts in full under the IVAs?

Thank you for your replies Melanie. What sort of figure would you think would be an acceptable amount as we would be paying back approx £52,200 but included in that is their fees for £10,000 approx.

It all seems a little confusing.

I would think around £28k - but get your IP to work out a settlement figure for you based upon the original dividend offered. Some who post on the forum will advise you to go lower, so see what your own IPs view is on the offer?

I agree with Melanie and the £18k quoted is far to low. £28k looks right.