What is a full and final settlement? I am entering my third year of my IVA and pay £145 per month with approx 26 months left. Any idea what offers are acceptable? Thanks.
A F&F is a lump sum to close the IVA early based on what is left to pay --- in your case £145 x 26 = 3770 (assuming you are not a homeowner - in which case you need to add 12 payments). You might get an offer in £3,000 - £3,500 accepted. But, obviously, the better the offer the more chances of it being accepted.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
