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chris25

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Post by chris25 » Wed Apr 09, 2008 11:02 am
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Could someone explain to me how a full and final works?
Im currently in an IVA and was wondering if it was possible to end it early if I managed to get some help from a 3rd party?
My debts stand at approx 25k but in my IVA im paying back 12k inc IP fees.
Would i need to find enough £ to pay the full 25k or the 12k set out in the IVA?
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MelanieGiles

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Post by MelanieGiles » Wed Apr 09, 2008 11:19 am
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Hi chris

Full and final settlements are usually based on you returning a similar dividend return to creditors as was originally offered. It would be sensible to ask your IP to provide you with a settlement figure so that you have something to work with.
Regards, Melanie Giles, Insolvency Practitioner
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