Hi All,
Good news. My review has come early it seems, as we had a letter through the door Saturday. I hope this means good news.We pray it does.
I just sent all my details via email and now await. It is the 4 year review, so massive. As said earlier an extra year had been added on as we had missed a payment and reduced monthly contributions by £100, from £715 - £615, so in affect £1200 a year less + £715 from missed payment = £1915 = £615(new payment) x 12 extra = £7,380 - not sure how this works vs the £1915 but hey ho. The positive from this is that for well over a year we have scraped and managed to pay £700 a month so £85 more than agreed, to catch up, as discussed with DFD. So well on the way to doing that. Then came the £7200 windfall.
We were already paying 92 pence in the pound (unlike Portsmouth fc who got away with 20pence in the pound?lol), so even if we made that up to 100% that would be 8% to find which is what, around £2800 (orig debt £35000), so approx £4,400 change plus the 12 months £85 extra = £1020 + £4400 = £5420 spare - £915 from the reduction and missed payment = £4,505 left over.
So and I am probably wrong, that could mean the extra year knocked off, the creditors payed 100% by the end of the term and £4,505 left to knock a hole into the last years payment. In my mind, this all make sense, but thats in my mind.
I know this takes some reading but does this add up to any one with a sharper mind that me please?
Many thanks in advance
Gary
