I’m in a Iva and nearly done my first year, My husband is not included in this we were talking about how much to end the Iva in total I was in debt for nearly £19.000 but my payments are £92 per month for 5 years so they totalled I will pay £5520 I rent my home so I don’t have any equity. If I had a friend that was willing to offer a full and final amount how much would be needed? Would it be what my debt originally is or what Creditfix said now the £5520? Tad confused. Nothing has been mentioned or set in stone just a general enquiry thanks.
A full and final is generally based on remaining payments and is often rounded down a little ( though CF will not encourage this as they get less in fees and they are rather fixated on their fees!). £5k would be a great offer and, though these things can never be guaranteed, would be looked at seriously by creditors.
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