I am 27 months into an iva , which was agreed at £54,000.
I pay £900 a month so to date I have paid in £24300 +I also paid in £3750 from a tax rebate making £28,000, total , I think this leaves £26000 , my daughter is willing to help and pay off as final settlement as I am now 70 years old and the iva is causing me great stress and effecting my health . Do you think a final settlement of £26,000 would be a fair and sensible offer . Or would they want more as this is all my daughter has .
The creditors are expecting a further 33 payments (45 if you are a homeowner) at £900, so £29700 ( or £40500). You might get away with £26k in the first instance, but, if you have equity to be addressed, it might be a little light.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
