Final settlement?

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adele196
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by adele196 » Sat Jan 26, 2019 9:47 pm
Hi Im just over 2 years into an IVA agreement of 5 years. I pay £100 a month. I’m moving to Oz and my mum has kindly offered to help. Ive around 2600 still to pay, any idea what i could offer as a final settlement?
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luluj
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by luluj » Sun Jan 27, 2019 5:36 am
You would need to be looking at an offer of around £3500 plus any potential equity release clause if you own your own property.

You need to ensure when making the offer of a full and final that it is clear that the money is only available to conclude your iva.

Good luck
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Foggy
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by Foggy » Sun Jan 27, 2019 10:18 am
It is possible to round down F&F offer amounts, but, in your case, you are making a very low payment and the creditors will be getting very little of it anyway, so you have very little wiggle room. As Luluj suggests the "outstanding" payments of £3500 would be the starting point.
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