F&F

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F&F

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Karen.59
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by Karen.59 » Wed Nov 01, 2017 9:42 am
I want to know how much it costs to find out how much it costs to get a full and final settlement figure and how long before I know if acceptable
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Foggy
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by Foggy » Wed Nov 01, 2017 9:54 am
Karen.59 wrote:
I want to know how much it costs to find out how much it costs to get a full and final settlement figure and how long before I know if acceptable



A full and final offer is different to a settlement. For a settlement figure you need to pay the balance of the full outstanding debt, fees and possible statutory interest. For a F&F offer you make an offer based on the number of months remaining ( plus 12 if the equity clause is likely to be triggered) multiplied by the current monthly payment (far less than a settlement).

A F&F usually take 2 - 3 months to put together ( unless you are with Payplan, who are currently taking nearer 6 months).
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Lisa Thomas
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by Lisa Thomas » Wed Nov 01, 2017 12:58 pm
It costs nothing but time and a stamp as YOU make the offer. The creditors might get charged £500 by your IP for a variation fee but that shouldn't really affect you.
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