loan balance

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anais743

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Post by anais743 » Tue Feb 05, 2008 10:09 am
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for the purpose of calculating your total debt do you take the loan balance figure or the redemption figure? my redemption figure is 5K less than my current balance
'There are no secrets to success. It is the result of preparation, hard work, and learning from failure
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pbeck

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Post by pbeck » Tue Feb 05, 2008 10:10 am
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Take the loan balance figure, the redemption figure is a discounted early settlement figure, the balance is the number of payments you have left multiplied by the payment amount.
Philip Beck - www.freeivaadvice.co.uk

Licensed Insolvency Practitioner and IVA specialist since 1996.
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Adam Davies

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Post by Adam Davies » Tue Feb 05, 2008 10:17 am
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Hi
Always best to look at the worse case scenario,take Philips advice and quote the balance figure
Regards
Andam Davies
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