www.iva.co.uk

i've been in an iva for approaching 2 years now,and have a question with regards to a final settlement.over the last 2 years i've had salary increases which have resulted in increased payments to the iva(as per any iva,and not a problem).however,when calculating a full and final,do i calculate the amount offered as per the original proposal or at the rate at which i am paying now?
thanks

Hi iel781

When preparing the report to your creditors to put forward a full and final settlement your IP will compare what creditors are likely to receive under the existing terms of the IVA (i.e. with the increases included) against your full and final offer.

You should contact your IP who should be able to discuss this with you in detail, including any other additional factors which may be relevant - such as an increase or decrease in creditors claims.

Hope this helps

Jane Finch
Insolvency Practitioner

AccumaGroup - A large insolvency practitioner service based in Manchester.
www.accumagroup.com

it does.thank you