Full & Final IVA Settlement

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jemma
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by jemma » Thu Mar 01, 2018 2:27 pm
Hello
Posted on here a few times recently.
My partner has bought a house and I am considering moving in with him.
He has said he will provide funds for a full and final settlement.
I pay £145 and have 29 months left. However I got a pay rise 6 months ago and have submitted this as part of my annual review (just last week). Taking into account the pay rise (which is approx £250 month extra), what would you advise as a reasonable offer? Would £4K to £4.5k be acceptable? Is there any negative comeback if they reject the offer or does the IVA continue to run as before? Thanks in advance.
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Foggy
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by Foggy » Thu Mar 01, 2018 2:33 pm
Let's assume that your new payment, post pay rise will be £250 per month -- the creditors are looking at getting around £7250, so, I feel, £4,500 would possibly be too light. But I have seen modest offers accepted before. When you make the offer make it clear that the IVA will be expected to continue "as is" if it is rejected.
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