IVA Settlement

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Amy.j
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by Amy.j » Sat Mar 04, 2017 5:15 pm
Hi there

I have been in an IVA since May 2016 and its obviously only just coming up to a year.

A couple of months ago I received an £800 winning which went towards my IVA straight away.

Basically a family member has offered me 4k to pay of my IVA, but I feel this wouldn't be enough. 21k IVA took it down to 15k (i think).

What would be the best settlement figure does anyone have any ideas?
Last edited by Amy.j on Mon Apr 24, 2017 6:41 pm, edited 1 time in total.
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Foggy
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by Foggy » Sat Mar 04, 2017 6:24 pm
Hi -- any full and final will be based on months remaining multiplied by monthly amount. If there is equity to be addressed you will need to add 12 months. The figure can then be rounded down a little as the creditors will be making savings on admin costs.
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