www.iva.co.uk

I have been paying an iva for 2.5 years and have paid in over 8000. the debt was for 32000 but my iva payments started at 240 then dropped to £225 as my income dropped.
If a family member offered to pay off my iva, could i get a reduced settlemt figure, or would it be for the full amount? Please advise as a can barely make the monthly payments.
Thank you

The closer you are to the original dividend the more likely it is to be accepted.

Based on the facts that you have provided lisa, and assuming that your IVA was set for a five year period with 30 months remaining, a figure of £6,750 would seem a good figure - but if your actual disposable income figure has reduced and this can be proven, then a lower sum may be acceptable.

Is there also a release of equity in the final year to consider in your case?