A full and final offer (not a settlement -- that is a more expensive animal usually) is based on the number of payments remaining multiplied by the current monthly amount. So nearly £20,500.
It could be, from those figures, that you will hit repaying the full original debt, plus fees and interest before the contractual end date, in which case the IVA will end early. IF they are saying you will hit that settlement figure (100% debt, fees and interest) in another £17,000, then that is all you need offer. Indeed, if that wasn't the case and you have £20k to repay over the next 2 years, I would suggest a F&F offer of that order would suffice, considering they would be saving a bit in admin costs over the coming couple of years.
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