How do you work out a full and final settlement ?

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
User avatar
lynne251
Posts: 4
by lynne251 » Sun Dec 24, 2017 3:32 pm
To do a full and final settlement, how do you work it out
User avatar
kallis3
Forum Expert
Posts: 72220
Contact
by kallis3 » Sun Dec 24, 2017 3:36 pm
Hi,

Normally you use the amount of payments you have left and offer those. Don't call it a settlement, just a full and final offer. Where would the money be coming from?
User avatar
Foggy
Forum Expert
Posts: 24436
Contact
by Foggy » Sun Dec 24, 2017 4:17 pm
As Kallis says --- a full and final amount is based on the number of payments remaining (plus 12 if there is equity to be addressed) multiplied by the current monthly payment. Depending on the time saved this could be rounded down a little. (A settlement figure, as Kallis alludes, is a different thing, being the balance of the full original debt, plus fees and possible statutory interest ).
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: Ryan and 11 guests