It may be that I might need to take early retirement through ill health at which I'll get a lump sum which I would wish to pay a large amount off my mortgage but my income would be significantly reduced. At the end of the agreement I would have paid approximately two thirds off the original debt. I'd be about half way through the agreement by the date of retirement. What would the creditors expect me to pay and how? Please help if I have to continue to work I worry about the effect on my health.
You need to discuss this with your IP before you retire and draw down funds. A full and final may be appropriate using some of the funds and your IP will have come across this many times before.
