www.iva.co.uk

First post in this site so here goes,

I am 36 months into my IVA. I am paying 572 per month with a total payment of approx £34000 for a £39000 debt with 10 creditors.

I have been reading various posts on this site and am thinking of ringing my IP and obtaining a settlement figure. I have paid 20952 into the IVA ( not sure amount minus IP fees) I have 24 more payments of 572 totalling £13728 to complete the IVA. My total ip fees are £8578.

Is it worth settling as my mother has suggested lending me whatever the settlment figure would be and I would pay her back on a monthly basis. The idea is that I would pay her less and save money. (depending on the settlement figure of course!)

I am in a stable job with no other reasons to settlte other than the creditors getting money back earlier. I was thinging of suggesting a settlement figure of £10000 to my IP.

Great site and I would appreciate any advice.

Thanks.

That may be a good starting point, but I would ask your IP to work out a settlement figure for you based upon the original dividend offered.

Thanks for the advice, I have emailed the IP and asked him/her to work out a settlement figure.

Hi
your debt is £39000 and when you had an iva you have to pay in total 34000 looklike is not much reduce your debt.

Hi Paul,

We are all trying to pay back as much as possible to our creditors, ian32 seems to be making a particularly good return.

I don't look at it from the point of view of how much I can get written off, the more I can pay back to my creditors, the better.

And dont forget, the interest has stopped being added. I'm sure that if it hadn't, there would be thousands more to pay.

Not reduced my debt?? I was paying around £1000 a month before the IVA and about half of it was interest on credit cards