lynne251 wrote:Say you owed £20,000 and you get money from a third party, would you have to offer the full amount and also would you be liable for interest on top of that and also fees to the people whom you have the Iva with?
If you are offering a Full and Final the amount is based on the number of payments remaining (plus 12 if there is equity to be looked at) multiplied by the current monthly amount (you can round this down slightly). A F&F is much less expensive than a settlement, which does include the full original debt, plus fees and statutory interest (if not excluded).
Who is onlineUsers browsing this forum: No registered users and 10 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location