www.iva.co.uk

Hello,

My wife and I are coming up on are one year IVA review and a family member has proposed a full and final offer to close the IVA early.

My question is what is the value we should put forward for a full and final payment? our total original debt was £22,000 and my IVA payments are £283 pcm this means that we would pay a total of £16,980 (this includes the £6792 of fees added by harrington brooks) over five years

The reason we are looking at this avenue is that my employer is concidering moving the company back to france and this is where are mother company is based and by remaining in the UK after leaving europe could cause more cost to the company being that we deal with mostly european business. My house has been valued as negitive equiy due to the face that when we baught the property we had some building work started which due to financial issues has left us with no kitchen just a sink and untilly machines, no celings/carpets downstairs and heating only upstairs. To top this all off I have been suffering with depression for the last 9 months due to all of the above, because of the IVA we canot afford to get any of the house fixxed so it is unlickly the house will ever be worth anything within the IVA.

Thanks for reading and feedback would help

Hi. What is left to pay ( 48 payments), assuming they are happy no equity applies and you have the usual 5 year arrangement, is £13584

Bearing in mind that there is a savings to be had, by both creditors and IP, in administration over the next 4 years, you can round that down a little. Try 12.5k

The offer should be based on the amount of payments you have left. The higher and more attractive the offer, the more likely they are to accept.

c£10k might be worth putting forward.

Bear in mind your credit rating will still be shot until 2020.