I’m halfway through my IVA and if payments continue I will pay a further £21000. If I was to offer creditors a lump sum to exit IVA early what figure would you suggest to be most likely to be accepted?
It depends on how much of that £21k is in relation to your original debt ( i.e how much of a hit creditors are already taking ).
Assuming you are not a homeowner ( or that the quoted figure includes 12 extra months ) I would venture an offer of around £15k - £16k .... but, as I always mention, I have seen low offers accepted as well as high offers refused --- much depends on the make up of your creditors and, as mentioned above, how much of a hit they are already taking. Of course, the nearer you get to £21k the better chances of success.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk