Page 1 of 1
Posted: Wed Mar 12, 2008 1:13 pm
by sharon8
I am currently in IVA and I have 16mths remaining. My sister has offer to give me the money to clear the IVA early. To date the amount paid into the IVA is £15,860, if I continue to make monthly payment of £420 for the remaining 16mth, I would paid in an additional £6,720 bringing the total to £22,580. The original agreement was that I was to paid in £340@60=£20,400. What should be the minimum I offer to my creditors to end the IVA early?
Posted: Wed Mar 12, 2008 1:36 pm
by Cybus
Do the creditors have a minimum dividend requirement?
At the risk of being controversial, I would say that you should offer your best that you are able to as opposed to the minimum that can be got away with.
Posted: Wed Mar 12, 2008 2:10 pm
by Lisa2009
I would suggest offering as close to the agreed dividend as possible and if the dividend is estimated, go in a bit higher.
Posted: Wed Mar 12, 2008 8:14 pm
by Adam Davies
Hi
Offer 6k to your IP,state that it is coming from a third party ONLY if it is used to conclude your IVA,You will then use your disposible income to repay the third party.
There is a template letter that you can use,located on the left hand side of this page
Let us know how you get on
Regards