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I know that IVAs are looked at on their own merits by creditors. Do creditors tend to follow voting pattens ? As some of you know I am offering a F&F settlement IVA. Do these tend to be popular at the moment as it gives the creditors their money straight away ?

Good evening,

Sometimes, creditors will accept one lump sum payment in lieu of a traditional IVA in which the payments are spread out over five years.

Why would the banks take a deal? They may just want to get the situation over with and stop monitoring your debt. Less money now may be more valuable to them than small payments over a period of years that add up to more.

At the completion of payment, a notice of full satisfaction of the debt is issued, which you’ll need to send to credit agencies Experian and Equifax.

Kind regards,


Julia Simavi

Shortlisted with special commendation for Debt Counsellor of the Year by Credit Today Awards 2007

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Creditors do generally like full and final settlements, but will also look closely at your income and expenditure to ensure that they could not also get ongoing contributions from you. So long as you are putting best foot forward, there should be no problem.

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