F & F settlements - StepChange

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L82
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by L82 » Sun Jan 21, 2018 7:19 am
I’m going to offer a F&F settlement. I owe a relatively low debt if £13k and have agreed payment of £95 per month so in total would pay back to them £5700. I have paid into my IVA £665 so I was going to offer £5k based on the presumption I will be paying about 2/3 months of £95 during the proposal process. Is that an acceptable amount? Also do any of you have experience with time scales for IVA F&F settlements via StepChange IVA?

Thanks
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Foggy
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by Foggy » Sun Jan 21, 2018 9:55 am
That is a good offer and both creditors and Stepchange should be happy with it -- they will get what they signed up for as well as save a lump on administration costs over the next few years.
From what I gather Stepchange are pretty much on the ball with these things, so hopefully all should go through in the "normal" timespan --- usually 2 to 3 months.
Good Luck.
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kallis3
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by kallis3 » Sun Jan 21, 2018 11:27 am
Fingers crossed!!
L82
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by L82 » Sun Jan 21, 2018 11:39 am
Thank you! I didn’t even know you could offer F&F settlements until very recently I’m hoping I can be fee of the IVA terms soon and back to repairing my future. I have learnt a big lesson :-(
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Lisa Thomas
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by Lisa Thomas » Mon Jan 22, 2018 12:20 pm
I agree £5k is a good offer - make sure you word it so future payments are deducted from the F&F figure.

https://youtu.be/h4dozq9aGak
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kallis3
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by kallis3 » Mon Jan 22, 2018 12:53 pm
Don't forget to let them know money is only available for a full and final and won't be available otherwise.
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