Is the £14,500 you mention the sum of the remaining payments? Do you own your own home ?
If you are a homeowner, you will need to factor in another 12 payments.
Assuming you are not a homeowner and this is the amount the creditors are expecting to get over the rest of the IVA, I would say that £10k would be worth trying as a Full and Final Offer ( do not use the term settlement --- that is a different and more expensive animal). But, it is difficult to guess -- I have seen low offers accepted and, at the same time, high offers rejected ( even 2 offers in excess of the outstanding amount !).
Best of luck with it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Visit my blog here : http://foggy.blogs.iva.co.uk/
Hi thanks for your reply, no im not a homeowner, i rent my home, but since i have gone into my IVA, my rent had gone up, my salary has gone down slightly due to change of jobs, and i have had a child since, i just want to be rid of it, i was rushed into it at the time i had nowhere to turn, and its made everything so much worse now, Thanks