what would be a reasonable amount to offer?

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fatboy38

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Post by fatboy38 » Sun Jan 27, 2008 9:53 am
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i am currently in an iva 38 months paid so far. i was considering ending early(via a family loan. i am paying £1400.00 p/m. on contacting my supervisor they advised me that my settlement figure would be £31,400, thats actually £400.00 more than i would pay if i let the IVA run its course! although they did say that i could offer less. my question is in your experience what would be a reasonable amount to offer? my property is included in the IVA, basically it was set up that out of the £1400. my wife would make a contribution as a way of releasing my equity to creditors.
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MelanieGiles

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Post by MelanieGiles » Sun Jan 27, 2008 9:55 am
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Hi fatboy and welcome to the forum

I would ask your IP to work out a figure for you based upon achieving the dividend you initially offered. Was the property included in the IVA in the first place, and do you have a requirement to raise equity during the fourth or final year in any case? Also what are your reasons for wanting to settle early?
Regards, Melanie Giles, Insolvency Practitioner
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