Hi, I've been on I've

[andzeijs]

Hi, I've been on I've for last 7 month the outstanding IVA balance originally was 5000£, and I'm paying 85£ a month and one of my relatives have agreed to help me settle it, how much should I offer please ?
Thank you for any help

[Foggy]

A full and final offer is based on the number of payments left x the monthly amount. Normally it can be reduced a little, but, in your case, the monthly payment is the almost lowest allowed, so you do not really have room to reduce.

You have 53 payments of £85 left to pay --- which is £4505 (assuming you rent your home and there is no equity question to deal with). An offer of £4000 might be acceptable -- but this is only a guess.

[andzeijs]

I see, yeah Im just renting a property.
Thank you for an answer much appreciated.

[Marty171]

I agree with Foggy id say around the 4k mark, as it'll be finished 4 years earlier than expected it'll save the creditors on administration costs.

Good Luck