Hi I'm with dfd since sept 2012 my partner and I have divorced so we sold the flat we had dfd got £16761 with they proposed to to settled Barclay ect declined and want me to continue the total debt is £24,000. After calling dfd and advising I'm now selling my house the total I need to repay is £12,000 surely this is incorrect iv paid £16,760 plus £2375 fees so far and PPP £662 & £579 making £20377 they said £12,000 I need to pay that totals £8377 how is this possible only been with them 2 years and to be honest they are useless get 3 answers for one question.
It's all down to terminology and how the person you are talking to is thinking:
Firstly, during an IVA you always owe the full amount of the original debt, plus fees and possible statutory interest.
If you ask for a figure to settle the IVA there is a good chance that they will give you the figure to cover all of the above, less payments already made.
Asking for a full and final, will get a non-committal answer, as it is not their place to give you a figure, but for you to make your "best offer". A F&F is usually based upon the number of payments left multiplied by the current monthly amount (plus 12 months if there is equity to be addressed).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
