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Hi there,

I am 5 months into an IVA, currently £385 per month for 60 months which amounts to about 23k.

My partner has recently come into some money after a house sale and is offering to pay this off for me, then I will make my own arrangements to pay her back.

Before i approach my IP just wondering what the best plan of action is?

How much will I have to pay back? Would they accept 23k as a final payment or will they want the original debt including fees which we wont be able to pay back.

Thanks.

Hi mrclooney and welcome to the forum

You have £21,175 remaining, but of course if you settle early there will be some saving in IP fees. I suggest that you offer £20,000 if your partner can afford this, but do realise that your creditors will have to formally agree to a revised offer at a newly convened creditors meeting.

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