www.iva.co.uk

Hi Melanie and Co

Please can you help me? I am 2.5 years into IVA and wish to make an offer....my original debt was £45342 and I am paying 0.31p in the £, my monthly payments for 1 year were reduced to 250 and are normally 300 as per the first year. What would be an ideal figure to offer?

Kind regards

Hi
You have paid in £8400, you were proposing to return around 14k, so the difference is £5600 plus IP fees to date, around 4.5k.
I would look to offer around 10k as a full and final
Regards

I would get your IP to provide you with a settlement figure based upon returning the original dividend accepted by creditors. Where will the money be coming from to settle early?

Hi Melanie

My parents have offered to help me out which is lovely of them. To date the IP have taken their fees so I assume I would not need to offer 10k?
Surely they cannot take fees for anything more?

You will need to check that with your IP, as we don't know what fees they were charging or how much you have already paid over, or how much your creditor claims have actually been agreed at. Too many variables to be able to give difinitive advice on this type of forum unfortunately.

Hi
They will have taken nominee fees of approx 2.5k, possibly less.Then there is the usual supervising fees of approx 1k per year.There will also probably be a 500-1000 pound variation fee.
Don't be suprised if the fees come out at £4-£4.5k in total.
As Melanie states your IP is best placed to give you a figure that returns the original dividend
Regards