Settlement Offer?

Get expert opinion. This is the place for new questions to be posted.
6 posts Page 1 of 1
User avatar
nichola
Posts: 2
by nichola » Tue May 01, 2018 6:45 pm
I've got 29 months left on my iva at £201 a month £5829 left to pay. What would be a sensible settlement offer?
User avatar
Foggy
Forum Expert
Posts: 26327
Contact
by Foggy » Tue May 01, 2018 7:02 pm
It is always better to try to get as near to the predicted return as possible, but allowing some rebate for admin costs the creditors would save over the next couple of years. I would say an offer in the region of £4.5k to £5k would be looked on favourably. That said -- it can never be predicted -- I have seen very low offers accepted as well as some very generous ones rejected -- much will depend on the individual creditors as well as how much of a "hit" they are already taking.
User avatar
kallis3
Forum Expert
Posts: 73177
Contact
by kallis3 » Tue May 01, 2018 7:04 pm
Make sure you offer it as a full and final offer and not a settlement.
User avatar
Nikdav2713
Posts: 19
by Nikdav2713 » Wed May 02, 2018 7:29 am
Thanks for your replies. How do i go about sending an offer to the IVA company? Do i have to do it by post or call them?
User avatar
Foggy
Forum Expert
Posts: 26327
Contact
by Foggy » Wed May 02, 2018 7:55 am
Nikdav2713 wrote:
Thanks for your replies. How do i go about sending an offer to the IVA company? Do i have to do it by post or call them?


It depends on what your own IP wants ... most do it by letter, I did mine over the phone.
User avatar
kallis3
Forum Expert
Posts: 73177
Contact
by kallis3 » Wed May 02, 2018 8:33 am
I had to do mine by post.
6 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 20 guests