www.iva.co.uk

Hi

Would be interested in having some figures on the people here who have agreed full and final settlements on their IVA via a third party.
I would be interested to know the ammount that they have had settled on the settlement, ie the amount they have had agreed against the amount on the IVA minus the payments they have made to the IVA so far.
Although I have an equity clause with anything from 5K to be paid into the IVA my mortgage is only 1K less than the property value so wont have an extension from that in the iv

Hi Sadie,

Each offer is individual - what you should usually do is offer as close to the original dividend as possible so that would be your remaining payments into the IVA.

i had a 5 year iva and had made 9 payments of 365.
Also had an equity clause but the final figure would not have been known until end of 4th year.
Had 18,000 accepted as f & f which was the maximum i could get from my family so guess its best to offer as much as you have available.
Hope that helps

I agree with Jan that it should be as close to the original dividend.

However, I would say that if there are circumstances to back your IVA closure then this may help to get a lower settlement approved.

A family member has offered pay the IVA in full for me for £6000 when my remaining amount is £10K. Although there is an equity clause if i have more than 5K equity my property is worth the same amount as my mortgage. Can anyone who has had settlements agreed let me know the sort of figures that were agreed. I am aware that you should offer as near as you can to the figure agreed.
Any replies would be much appreciated

If you only have £6000 available then that's your best offer and thE creditors can only say no. Unless there is a reason you couldn't continue making payments the normal way it wouldn't be a foregone conclusion they'd accept.