Can i offer F&F for my partner? And credit rating time

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chris156
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Joined: Mon May 22, 2017 7:59 pm
by chris156 » Mon May 22, 2017 7:59 pm
Hello,

My partner has 4 years left on her IVA, she has been paying it for 12 months, at £126 per month so around £6000 left to pay.

I am happy to give her a lump sum to get rid of it to make a fresh start.

firstly how much should we offer? £5000?

Also will paying it off early help get her credit rating better quicker, or will it make no difference and we still have to wait 6 years?

Cheers
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Foggy
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by Foggy » Mon May 22, 2017 8:49 pm
Hi -- as they will be saving 4 years administration costs I would say that £5,000 would be a good offer, but, of course, these things cannot be second guessed.

I am afraid the credit rating will be trashed for the full 6 years regardless of early completion.
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chris156
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Joined: Mon May 22, 2017 7:59 pm
by chris156 » Tue May 23, 2017 5:48 am
Cheers for this!
Chris
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Lisa Thomas
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Joined: Wed Dec 03, 2014 10:26 am
by Lisa Thomas » Tue May 23, 2017 1:52 pm
I agree with Foggy's comments.
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