settle iva early

money-saving-novice

hi, if you are in a position to settle an iva early (parents/boyfriend) would the settlement figure be all the debt origionally or the iva figures, and also do i take away the costs of the iva fees up until i have the iva for, or do these have to be paid till the end?
hope this makes sense:(

FoggyBrain_2

Hi. You should aim to settle with an amount as near to the original dividend as possible (not the original debt). As for fees, it will depend upon how they are being calculated: If on a time basis the fees will be reduced. However many proposals are going through with fees based as a %age of the amount realised, so the IP will still get that %age.

angel_rainbow

I think really you need to put the best offer you can forward for a full and final offer. To pay off everything it would be the original debt, plus interest plus fees - not many are in a position to do that! but an IVA can still end early with a decent full and final offer. Go through some figures and give your IP a ring and have a chat with them. Good luck!