Hello, I'm currently in am iva and have about 3 years left but only £3350 to pay. I have recently lost my job and I suffer from severe anxiety, depression and panic disorder and only recently I was crippled with it for nearly 2 months, not being able to work or leave my house. This IVA is a huge stressors and trigger towards my mental health and I desperately need out. I have a friend who is willing to offer a settlement but we were wondering how much approximately he should offer to pay it off? I'm with Unity Corp if anyone else has had any experience with them. Thank you
A lot will depend on how much of a hit creditors are already taking --- your payment of around £95 a month is already on the low side, so, unless your original debt was also low, they will already be losing a fair bit !
That has to be balanced by the possibility that, if they didn't accept the offer, they might well get nothing more if you couldn't make the payments. There is also the chance that, due to them not getting a lot anyway, they would be happy to close the arrangement early ...... It's really an impossible thing to guess at.
I would say an offer of £2500 might be sufficient, maybe even as low as £2000. But, as I have said before: I have seen high offers refused as well as low offers accepted.
Not really a helpful reply but I wish you the best of luck.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
