www.iva.co.uk

Hi

I have £33,000 of debt to various creditors and am struggling to keep up with the repayments etc. I have been recently looking into full and final, lump sum IVA's as a thord pary may be able to raise some funds. I was just asking what would be a good settlement figure for this amount of debt??

Hi carl

That really depends upon your circumstances to be honest - and would largely be based upon what you could afford to pay over a five year period in terms of contributions. For instance if you have disposable income of say £300 per month, I would suggest an offer of between £15,000 and £18,000 to give creditors a similar return but over a much quicker timescale.

The best thing to do would be to consult an insolvency practitioner who can advise you on all of the options currently available to you, to enable you to make a reasoned choice.