Posted: Wed Aug 20, 2014 7:02 pm
can any-one tell me, and its only an enquiry at this stage - under what circumstances would creditors accept whats been paid already as a full and final settlement? I am 36 months into the IVA.
There is no cut and dried rule and all will depend upon the exact circumstances (as well as the influence of the moon on a particular day!).
Mine was settled this way following a marriage break up which left me a single parent and unable to make any payments. However, in my case, in early years I had managed to overpay and a PPI refund meant that what I had paid in by the half way mark was the promised dividend.