Full and final - debt fix - need your experience:)

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Chloexx123
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by Chloexx123 » Mon Nov 20, 2017 9:16 pm
Hi everybody! New to this so please bare with me.
So basically I want to become a teacher which means leaving full time work.

So I contacted CreditFix and asked how much I’d have to pay to pay in full so they told me £6642.00 (got all this on record).
Today I proposed a email explaining that my kind mother has offered to pay this in full for me (the full £6642!)

How does this sound guys? Does this sound like something that would be accepted?

What is your experience with full and final settlements and how long did you have to wait for

1) a response
2) to know wether it has been accepted of not
3) for it all to be complete?

Thank you in advance.
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Foggy
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by Foggy » Tue Nov 21, 2017 7:52 am
Hi. I assume the £6642 is the total of the remaining payments you have yet to make (this is normally what a F&F is based on). The full amount to come is a generous offer and, I am sure, will be looked at seriously. Considering that the IP and the creditors will be making savings on administration costs it should do well ( but one can never be certain of these things).

It usually takes a few weeks to draft a variation and then they have to give the creditors a months notice, so the usual time frame is 2 - 3 months. Once the meeting has been held you should get the result on the day and then make the payment. After this normal completion procedures kick in and you should have your completion certificate within around 3 months -- having said that CF are normally quite fast with these things, so it might all well happen faster once they get going.

Good luck.
Chloexx123
Posts: 5
by Chloexx123 » Tue Nov 21, 2017 12:54 pm
Hi everyone - I’m new to this so please bare with me!!
I’m currently in an IVA with Debtfix - all been really pleasant so far! Next year I want to go back to university full time and therefore won’t be working!
I spoke to debt fix regarding how much it was cost to settle early and they told me £6642.00.

My mother kindly said that she would gift this money to me. So I have emailed the proposal of the full £6642 along with a letter from her, photo ID and bank statement.

Do you guys think that this offer will be accepted?
Based on all of your experiences, how long do these things take to finalise based on of it was accepted?

Thank you in advance :)
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Foggy
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by Foggy » Tue Nov 21, 2017 1:33 pm
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