Hi, I’m thinking of going into an IVA lump sum, StepChange have quoted £13638.23 as a lump sum amount to my £32000 debt across 7 creditors. Can you please advise if this would be an acceptable amount & can I go straight into a lump sum IVA.
There is nothing stopping you going for a lump sum IVA, but it is still at the whim of creditors as to whether they accept or not . The IVA will still marr your credit files for 6 years.
The figure given by Stepchange seems reasonable in terms of return on debt to creditors, after fees etc., although I am curious as to where they plucked this from -- it is not usually their place to decide what you can offer, but yours.
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