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Posted: Thu Jan 28, 2016 7:36 am
by Scott.92
Hello, I have been in my IVA now for 16 months. My partner and I are sick of the ever increasing private rent increases and would like to move into our parents so that we can save for a mortgage. My IVA was set-up to pay back just over 10k. I have paid off almost 2k already including PPI back-pay. My father-in-law is willing to gift me some money to put forward as a final settlement. How much would be a good offer?
Posted: Thu Jan 28, 2016 7:55 am
by lifenoteasy
40 times your normal payment.
Posted: Thu Jan 28, 2016 11:17 am
by Lisa Thomas
If you have £8k remaining this is your starting point. An offer of £5-7k might be reasonably considered.
Worst case scenario your father could always increase to £8k if a reduced offer was rejected.
However take care - if you move into the house before the variation is approved then they could decide that your contributions can increase as your expenditure will have gone down. It will then cost a lot more to reach any settlement...