www.iva.co.uk

Hello I want to propose a final payment to my iva credit fix company as I am having to give up work through I'll health and my ex husband as gifted me the money to pay it off in full I owe 24x123 do I offer slightly more or do I just offer what I would be i don't own any property I live in the house my ex husband owns and pay rent please can you advise kind regards jane guy

Hi,

Sorry to hear of your problems and hope you are better soon. You could always see if they would accept payments to date as a settlement due to your ill health, otherwise I am sure they will snap your hands off if you offer them the full amount. Make sure they know this money is only available as a full and final settlement and will be withdrawn if not accepted. I would advise your ex not to put the money in your account as your IVA company could see it as a windfall and take it anyway. He will need to provide details of his bank account (money laundering enquiries - nothing to worry about).

Full and finals are usually based on the amount of regular payments remaining, although CreditFix have, in the past, asked for the £300 variation fee to be added, but this seems to have stopped and CF appear to have become much more easy to deal with lately, with regards to final offers. An offer based on around £3k would, hopefully, do the trick.

To be honest, with any other IVA firm I would offer, maybe, £2500. But, obviously, the better the offer, the better the chances.

Thankyou you so much any advice on how much information I have to put in the letter I am finishing on bad health not got any letters from doctor to say I have to finish but I have letter from the hospital of my health issues I shorten my hours but still can't manage working or are they just interested in the settlement regards jane

It can only help giving them information from the hospital. just explain everything to them.

Thankyou for you help here goes!!! Will do the letter tomorrow regards jane