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Posted: Mon Dec 13, 2010 11:34 pm
by DdD52
I have just completed my first year on my iva and i am currently paying 417 pounds per month.I will like to make a full settlement figure of £11000.Can anyone advise me if this is A reasonable amount and if not what will you consider offering.
thank you.
Posted: Tue Dec 14, 2010 12:05 am
by MelanieGiles
Hi there and welcome to the forum
Assuming that your IVA is set to run over 5 years, you would pay around £20k if it ran the full course. Therefore £11k in my opiniom would not be a tempting offer for your creditors - unless you are currently struggling with your payments and could demonstrate that this is a better solution for them than to risk the IVA failing.
Why do you want to settle early?