Morning all,
So we have 10 months left of our IVA and although our house is to be valued for possible equity release we aren't expecting there to be any. We had a discussion with a family member recently and they have offered us a lump sum to clear the IVA now so that we no longer have to deal with the worry and stress surrounding it (few other things going on long story) especially since the transfer to CF. I have emailed them about it but would it be worth trying at this stage?
We pay around 2 hundred a month so theoretically if there is no equity what would a good F&F offer be?
Thanks so much.
You would be looking at an offer of £2000 to clear, if the matter was settled right away. But, assuming they take two months to process (more likely three)then £1400 ish.
At this late stage an early settlement might not be worthwhile to you in terms of timescale, or to the creditors, as they will also be losing around £500 in a variation fee --- they might prefer to simply wait it out.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Well I must say that CF have been very swift in their response so far and I have arranged for a property valuation for Saturday, then we shall know more and hopefully be able to put together a reasonable F&F offer with the help from our family member
