Posted: Sun Jun 01, 2008 4:05 pm
hi - what kind of figure could i look at for full and final settlement - i want to be able to make a realistic offer and friends/family may be able to help me. my iva is £368 per month. original debt was 65k - i live in shared ownership so they put an extra 6 months on my iva meaning i have to pay 66 payments of £368 (total = £24288). There is a 4 year clause which says any equity above £2208 should be paid into the arrangement - bbut because its shared ownership i am already paying an extra 6 payments and i can't see there being much equity anyway. I have made 20 months of payments so far (started oct 06 so nearly at end of second year). I have a modification that says there could be no amendments etc for first two years thats why i am starting to look at this now. Would 15k be reasonable or could i expect a higher settlement figure. My IVA agency are quite helpful but i need a figure in my head so i can make sure they aren't over stating the figure when i approach them. I really really would love to end this as it is a real struggle. Any advice grateful - please ask if i am not giving all the info you may need to advise me on this.
Thanks
Thanks