help please - full & final settlement

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jc1180: Posts: 27; Joined: Sun Jun 01, 2008 3:55 pm; Location:

by jc1180 » Sun Jun 01, 2008 4:05 pm

hi - what kind of figure could i look at for full and final settlement - i want to be able to make a realistic offer and friends/family may be able to help me. my iva is £368 per month. original debt was 65k - i live in shared ownership so they put an extra 6 months on my iva meaning i have to pay 66 payments of £368 (total = £24288). There is a 4 year clause which says any equity above £2208 should be paid into the arrangement - bbut because its shared ownership i am already paying an extra 6 payments and i can't see there being much equity anyway. I have made 20 months of payments so far (started oct 06 so nearly at end of second year). I have a modification that says there could be no amendments etc for first two years thats why i am starting to look at this now. Would 15k be reasonable or could i expect a higher settlement figure. My IVA agency are quite helpful but i need a figure in my head so i can make sure they aren't over stating the figure when i approach them. I really really would love to end this as it is a real struggle. Any advice grateful - please ask if i am not giving all the info you may need to advise me on this.
Thanks

Viki.W

Posts: 5647

Joined: Fri Feb 15, 2008 7:34 pm

Location: United Kingdom

by Viki.W » Sun Jun 01, 2008 4:11 pm

Hey jc, welcome to the forum. I can't help at all, sorry. I find full and finals very confusing!!!! An expert will be along shortly though to help you so hang in there. Viki X

If you would like to talk to me about your debt problems, please visit:
http://www.vincentbond.com/about_us_Viki_Warbrooke.asp