Hello everyone. I'm at 55month of my IVA and thinking to ask for full and final settlement. Do you have any idea what should I offer. At the moment me and my wife pay £413 every month. Release the equity will not be possible so we have 17 payments. What should I offer to get it accepted?
A full and final is based on remaining payments and can, sometimes, be rounded down to reflect savings in admin and time .... but, at this stage of the game, there is little to be saved now, so, as near to the remaining payments as possible will be needed (bearing in mind that a variation adds in the order of £500 to the fee bill).
So 17 x 413 = 7021. Maybe an offer of £6k ?? It is always a guessing game -- I have seen very low offers accepted as well as some high ones refused ( one refused that was actually higher than the remaining payments ! ).
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