We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Full and FInal Settlements

Options
adyj73
adyj73 Posts: 166 Forumite
I'm just about to smooch into year 3 of my IVA. I pay 300 quid a month so reckon I will pay about 10,800 back in the next 3 years (25% of my original debt)

I was wondering what sort of figures people have managed to get accepted as a full and final say at start year 3 or year 4 of the IVA? I have a few options I could utilise for a few grand if needed and it would be good to pay off the IVA earlier

I was thinking about 4 grand now (40% of remaining debt)

Really looking for people who have succeeded in a F and F to post please rather than people 'assuming' ;-)

Comments

  • I think it is unlikley creditors would accept a figure as low as £4000 unless your circumstances have changed and you can no longer make the agreed monthly payments.

    £8,000 is more likely to be accepted
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.7K Banking & Borrowing
  • 253K Reduce Debt & Boost Income
  • 453.4K Spending & Discounts
  • 243.7K Work, Benefits & Business
  • 598.5K Mortgages, Homes & Bills
  • 176.8K Life & Family
  • 256.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.