I have 4000 left to pay on my IVA and my partner is willing to give me 8000 of it means my debt is settled and I no longer have to pay into the IVA. How likely do you think this offer would be accepted?
Settlement: In which you pay the remaining original debt, fees and possible statutory interest. Or, more commonly...
Full and Final Offer: In which you make an offer based on remaining payments, plus 12 if you are a homeowner.
IPs will prefer the settlement and sometimes push you for it as it often means they get more in fees. Most creditors are happy to get what they signed up for, in the form of a F&F as they don't have to carry on dealing with small, costly, dividend payments every few months.
If you are with Creditfix, they also like you to pay the £300 variation fee as well !
Although these things can never be guaranteed an off of remaining payments would usually be accepted --- double that and they will rip your arm off !
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