Hi, regarding a full and final settlement can anyone tell me if the uplift payments are to be deducted from the end figure also would a tax rebate of £800 plus be deducted of that end figure or do they both go to paying off the total debt.
Uplift payments and windfalls will be paid to the IVA in addition to other funds. If you are offering a full and final the extra payments may help but the calculation should still be based on the remaining IVA payments.
During the IVA you always owe the full original debt, plus fees and possible statutory interest. Extra monies paid in have no effect on the term or your repayment amounts unless you hit this figure.
Only at the end are any unpaid debts written off.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
