Offering Early IVA Settlement Figure

aero1

HI all

I have received some great advice so far which I'm grateful for, and wondering if I can have some more please

On a previous thread I asked about early settlement of an IVA. At the time I had no idea of what the required settlement would be, or how much the creditors hoped to get paid over the life of the IVA.

I have found out that the amount the creditors expect to get in over 5 years, is £15k thereabouts. This includes the equity NRAM would hope to get released by a re-mortgage in month 54.

The actual NRAM part of the IVA is £32k.

I need to make sure the IVA does actually get paid off so do I need to confirm the amount first, then get a solicitor to draw up an offer to my ex, offering (x) amount of which (y) must be used to pay off the IVA (z) is his to keep and he agrees to forego any further interest is in the house when I can remortgage/sell once my credit history has improved?

(I'm worried basically that if I don't check and cross the t's and dot the i's, that the IVA will not be settled if I just approach my ex myself - I know he has to declare the income, but he would probably drag his heels).:o

Many thanks

tigerfeet2006

Hi, I know Doris has been really helpful on your other thread on this board but I would post over on the IVA&DRO board to get some other replies as well.

forums.moneysavingexpert.com/forumdisplay.php?f=136#top

aero1

Thanks Tigerfeet - I didn't know there was a separate one d'uh!! Thanks again

tigerfeet2006

No worries, glad to of been of assistance.