full and final payment

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tristan
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by tristan » Sat Jan 16, 2010 8:39 am
at the moment i have 20 months left to pay and paying £571 a month my sister has offered to give me £5000 to settle whats the chances they will accept

 

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Shining
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by Shining » Sat Jan 16, 2010 8:52 am
Hi Tristan, I've no idea about F&F's so won't comment but will keep this bumped up and hopefully someone with the right knowledge will be along soon x

 

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MelanieGiles
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by MelanieGiles » Sat Jan 16, 2010 4:50 pm
It depends on your circumstances Tristan. Are you struggling to pay your IVA payments at the moment, or do you just want to end the IVA early if you get the chance?

 

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tristan
Posts: 44
by tristan » Mon Jan 18, 2010 6:40 am
just to end it early

 

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MelanieGiles
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by MelanieGiles » Mon Jan 18, 2010 9:30 am
Then I think that your offer needs to be nearer the equivalent of your future payments in order to be successful, but of course you should discuss this with your own IP.

 

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MRBLUESKY
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by MRBLUESKY » Tue Jan 19, 2010 7:23 pm
hi tristan your payments are bang on what i was paying,my dividends though are probably different,mine was 31 pence in £.my f&f offer was £8000 with 18 months payments left totalling £10260.this was accepted to end it early,but if funds are available now or the near future from a third party then your ip may consider proposing a offer for you so it will be worth discussing any funds regarding a offer with them.

 

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Skippy
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by Skippy » Tue Jan 19, 2010 8:15 pm
Good luck with your offer Tristan, let us know how you get on x

 

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Shining
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by Shining » Tue Jan 19, 2010 9:04 pm
good luck from myself too x

 

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CanSeeTheLight
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by CanSeeTheLight » Tue Jan 19, 2010 9:10 pm
Is the F&F settlement amount to the total amount you would have paid if the IVA went to full term or the total amount of actual debt? i.e. if you originally owed £60k and under the IVA will repay £40k and have paid £30k of this back already - would the F&F be £10k or a further £30k??????

Hope this makes sense?? x

 

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Shining
Posts: 27023
by Shining » Tue Jan 19, 2010 9:21 pm
As I understand it the closer you can get to the original debt the better chance of acceptance.

The original debt is owed I do believe until all payments are made.

 

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MRBLUESKY
Posts: 2870
by MRBLUESKY » Tue Jan 19, 2010 9:52 pm
hi can see the light,based on your e.g.a final offer close to the £10,000,would be considerd as a good offer.but circumstances can allow a lower offer to be considered like unemployment etc.

 

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kallis3
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by kallis3 » Tue Jan 19, 2010 10:48 pm
Good luck tristan - keep us informed.
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