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Hi, Currently in an IVA that is due to finish in Feb 2009. Originally had around £30k debts; £14k was accepted as what I had to pay back. My payments are £230 a month so I have a little over £3k left to pay.
My question; is there any point making an offer for full and final payment with comparatively so little time left. It still feels like an eternity, but I would really really like to start saving for a house ASAP. My parents have said they would offer me the cash. I have asked my ip what he thinks an offer would be but he has yet to get back to me. Anyone have any ideas as to what a likely offer could be?
Many thanks in advance.

I don't see why not if you have third party funds available to effect the settlement. At this stage there is unlikely to be much saving (if any) on the IP's fees, but at least your case would be closed at a much early juncture. You will probably need to pay the £3k over to tempt an IP to put forward an offer for you.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
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Hi. Many thanks for the quick response. Wish I had found this board earlier!
Reading though some of the other posts I feel I ought to say that the whole IVA process has gone fairly well to be honest. The company i first spoke to were called Stephens and Buckley, they then passed it on to Wilson Phillips. They have been in regular contact for the last 4 years and although I have some un-answered questions, i accept that its not an exact science.
Just thought that may help someone out

Many thanks again.

Hi
Thanks for that and let us know how you get on with your full and final.
Your experience of going through an IVA will help many so please keep posting
Regards


Andy Davie
IVA.co.uk Spokesperson

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IVA Helpline: 0800 197 4838
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