How much should I offer to settle IVA?

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ryan719

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Post by ryan719 » Thu Mar 19, 2020 1:00 pm
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Hi everyone,
I posted into the forum last year at a point for some advice and I’m back again as I am finally ready to offer my full and final amount.

I have been in contact with PayPlan today who have let me know that the outstanding balance on my IVA is £3718.92. I’ve been in it over 2 years now and have had my payments upped from the original agreement made which in turn resulted in the outstanding balance being more than what it would have originally been.

What would you think a fair offer to be? I’m quite OCD and would like to offer £3000 on the button, however would this been too low of an offer?

Appreciate all help given on this and hope everyone is staying safe during this very weird time across the UK!

Many thanks
Ryan
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Foggy

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Post by Foggy » Thu Mar 19, 2020 2:25 pm
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Ity depends on what Payplan mean by 'outstanding balance' --- if that is the total of remaining payments, then I think £3k would be a reasonable offer to make, shaving 3 years off the IVA at the same time.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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ryan719

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Post by ryan719 » Thu Mar 19, 2020 4:04 pm
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Sorry, yes! Remaining payments over the remainder of the agreement period.

£3000 would be wonderful, although I can go slightly higher.
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Lisa Thomas

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Post by Lisa Thomas » Thu Mar 19, 2020 4:12 pm
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£3k seems like it might just about do it. I presume the offer is coming from third party funds?
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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ryan719

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Post by ryan719 » Thu Mar 19, 2020 5:25 pm
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Offer is coming from my mother for a full and final settlement to close the IVA up. Do you think it would be wise to offer slightly more?
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kallis3

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Post by kallis3 » Thu Mar 19, 2020 5:47 pm
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No - I would keep the offer as it is.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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luluj

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Post by luluj » Thu Mar 19, 2020 11:35 pm
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I would be very clear when making your offer that should it not be agreed you would not have access to this money

£3000 seems a sensible offer based on the fact payments between now and when offered submitted / agreed will continue

Good luck
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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Lisa Thomas

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Post by Lisa Thomas » Fri Mar 20, 2020 9:43 am
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Offer the £3k first. You can always increase if they reject/ask for more.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
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