I’m just wondering how much we should offer to settle our IVA. I was told today by credit fix that there’s 9000 left and I should make an offer. We’ve been accepted for a mortgage so creditfix have said we need to pay the IVA off before the mortgage starts but I don’t know what sort of offer is likely to be accepted.
A F&F offer is usually based on the number of payments outstanding multiplied by your monthly amount. It can be rounded down a little, dependig on the amount of time, and therefore admin savings they could make, you are shaving off the original term. Bear in mind, though, that the higher the offer the more chances of it being accepted.
Be wary of your upcoming mortgage offer ---- Is it an offer in principle, or is it a firm offer. It is next to impossible to get a decent offer while in an IVA or with one on your credit files and I have seen a couple of OIPs refused on full application. So tread carefully.
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