Is this a viable full and final offer ?

[prisoner63]

Hi,I started my iva in august 2013 with a debt of £16700 to pay.payments were set at £397 for 8 months then £347 for 52 months.to date I have paid in £8044.As I was due an inheritance I contacted my IP for a settlement figure,they came back to me with a figure of £32400 which includes a total figure of £21949 costs.I was thinking i would make an offer of £17500 based on remaining monthly payments plus 12 months payments to cover no release of equity.Can anyone advise me whether this is a viable offer or will my IP simply demand the whole inheritence (£23000) and further monthly payments untill their settlement figure is reached.I would also like to query some of their costs

[Foggy]

Costs would be calculated at 15% of the total debt, plus nominees fee of around £2k and disbursements. There might also be 8% p.a statutory interest thrown in.

The creditors are entitled to the inheritance up to the settlement figure quoted, so I doubt they will settle for your offer.

[Adam Davies]

Hi

It is your total original debt that you will have to repay plus IP fees and statutory interest, less any payments made

This figure may mean that all of your inheritance may have to be paid

Regards

[prisoner63]

Thanks guys,just want to get these pirates off my ship and continue my journey ASAP!