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Posted: Tue Feb 04, 2014 8:42 pm
by marce3000
Hello, just a quick question. Our payments are £369 per month. Our IVA is due to finish Feb 2015. If we were lucky enough to be able to make a full and final offer would it be a case of £369 x 12 payments. Thanks
Posted: Tue Feb 04, 2014 8:44 pm
by Foggy
Around that, yes. Don't forget there might be equity to consider and it could take three months to get the F&F through, so you'd be making a couple of payments as normal, to be deducted from the offer.
Posted: Tue Feb 04, 2014 8:47 pm
by marce3000
Hi Foggy, thanks for your reply. When you say equity what does that mean? We are in year 6 due to not being able to remortgage. Thanks
Posted: Tue Feb 04, 2014 9:23 pm
by Adam Davies
Hi
Well £369 x 12 should be acceptable to conclude your IVA
Good Luck
Regards
Posted: Tue Feb 04, 2014 9:26 pm
by marce3000
Thanks Andy!
Posted: Tue Feb 04, 2014 10:04 pm
by Foggy
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by marce3000
Hi Foggy, thanks for your reply. When you say equity what does that mean? We are in year 6 due to not being able to remortgage. Thanks
Then the equity has already been addressed and can be left out of the equation.
Posted: Wed Feb 05, 2014 6:43 am
by luluj
Your calculation of 12 x 369 should be sufficient to conclude your IVA - you may need to confirm where the full and final offer money will come from and what particular reason you want to conclude it early. As your equity has already been dealt with hopefully this would be seen favourable and your creditors approve it.