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I have had an IVA since July 2006. but paid 2 months previous to that, so this makes it nearly a year down the line. what would be the chance of the creditors to take a settlement early and what kind of amount do you think they would request. they have agreed 27p in the pound. Total amount per month i pay is £298 and total debt before my IVA was £36000.

Hi srw

This would depend upon where the settlement was coming from. The general rule is that any early settlement should provide at least the dividend you originally pledged - but I always try and encourage my clients to provide a "sweetener" to creditors to assure acceptance.

Without knowing the IP fee breakdown in your case, I am struggling to work out an acceptable figure for you, and you should discuss this with your IP in any case, however a figure in the region of £11,000 probably is in the right ball park.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk