Do you think this F&F offer would be accepted ?

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tina193
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by tina193 » Fri Oct 13, 2017 2:37 pm
HI, my balance outstanding is £2500 and I would like to propose a full and final settlement figure, I was thinking about £800. do You think that would be accepted or is there a percentage of the outstanding that I should offer
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Foggy
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by Foggy » Fri Oct 13, 2017 2:51 pm
Your F&F offer should be based on the number oemaining payments multiplied by the monthlymount ( pus 12 mths if there is equity to be addressed). How much you can reduce this by depends upon how long you have to go and, therefore, how much the creditors will be saving in time and effort as well as the circumstances, So .. difficult to say, but £800 feels a little light.
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tina193
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by tina193 » Fri Oct 13, 2017 3:00 pm
Foggy wrote:
Your F&F offer should be based on the number oemaining payments multiplied by the monthlymount ( pus 12 mths if there is equity to be addressed). How much you can reduce this by depends upon how long you have to go and, therefore, how much the creditors will be saving in time and effort as well as the circumstances, So .. difficult to say, but £800 feels a little light.


Hi, I have 6 months to go on the IVA and I am paying 5 x £443 per month & 1 x £343. I had an email this morning stating that my last payment is anticipated in April 2018 and the outstanding amount is £2515.00. What would you advise as a full and final payment based on this
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Foggy
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by Foggy » Fri Oct 13, 2017 3:19 pm
tina193 wrote:
Foggy wrote:
Your F&F offer should be based on the number oemaining payments multiplied by the monthlymount ( pus 12 mths if there is equity to be addressed). How much you can reduce this by depends upon how long you have to go and, therefore, how much the creditors will be saving in time and effort as well as the circumstances, So .. difficult to say, but £800 feels a little light.


Hi, I have 6 months to go on the IVA and I am paying 5 x £443 per month & 1 x £343. I had an email this morning stating that my last payment is anticipated in April 2018 and the outstanding amount is £2515.00. What would you advise as a full and final payment based on this



To be honest with 6 months remaining there is very little "wriggle room" as the £500 variation fee would destroy any savings. In any case the F&F would take 3 months ( 6 if you are with Payplan), so probably would be a waste of time and effort, and could possibly be turned down.
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tina193
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by tina193 » Fri Oct 13, 2017 3:23 pm
thank you, I appreciate your advise
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kallis3
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by kallis3 » Fri Oct 13, 2017 4:58 pm
I agree with Foggy - not worth going for now.
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tina193
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by tina193 » Fri Oct 13, 2017 10:30 pm
HI. I would like to make a full and final payment on my o/s balance, this is £2.5k and I was going to offer £800, do you think this would be acceptable?
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luluj
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by luluj » Sat Oct 14, 2017 4:14 am
How many months have you left to pay and how much is your monthly payment.
Multiply the two together and that will give you a rough figure to work too.
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kallis3
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by kallis3 » Sat Oct 14, 2017 7:54 am
Where will the money be coming from? You would have to say that it is only there for a full and final and will be withdrawn if not accepted.
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Foggy
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by Foggy » Sat Oct 14, 2017 8:57 am
Topics merged.
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