Couple of questions

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downandout

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Post by downandout » Mon Jun 02, 2014 5:09 pm
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Hi all can i have a bit of clarification on F&F, i have had a look round but still not 100% sure. Are F&F based on original 60 months or the usual extra 12 months, do any over-payments come into play with a F&F or are these just classed as extra over and above, i am not in a position as yet, but we have a one-third share in a declared property we have up for sale and my sister has indicated she MAY be able settle using her share depending on her state of play at the time
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Foggy

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Post by Foggy » Mon Jun 02, 2014 5:16 pm
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F&F s are based upon payments remaining -- start at the number you have left to take you to 60. If you have equity to be addressed this will need to be looked at as part of the offer.

It is still unlikely that you will be able to re-mortgage, so, if you have the 12 month extension alternative, you need to either add on an extra 12 months, or convince the creditors that there is little or no equity to be taken into account.

Any overpayments you have made will just be looked on as extra money already in the pot, but might get you some brownie points.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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