full and final settlement

[lollie]

Hi guys

I have 2 years and 9 months left on my IVA and pay £408 per month.

I was thinking of offering a full and final settlement and was wondering how much I should offer.

Any ideas?

Thanks

[indebtforever]

I take it you have about 13k to pay, have you an equity release in 4th year? i am no expert but you will save on fees for 2 years(approx 2.5k)but there will be a fee for variation or completion.I would say in my opinion you need to be looking at 10k so offer 8k [8D](if no equity clause.)

[lollie]

thanks for getting back to me

yeah i do have a 4 year equity release clause.

i've been trying to buy another house with my partner but due to the current climate I can't get a mortgage. i have no other option but to sell my house and rent until the market picks up again

[Viki.W]

Hey Lollie, I remember all that trouble you were having with DFD, hope things are a bit better for you now. I'm sure an expert will be along to advise you. Good luck, Viki X

[indebtforever]

depending on how much equity the creditors are after could you not offer a full and final with the sale?

[lollie]

hi viki.w, hope all is well

i'm still doing battle with DFD but have just heard today that Future Mortgages who have offered me a mortgage for my new house have said they will not allow for the land registry restriction to be transferred from my old property to the new property so all in all - no mortgage - no move.

i'm also still waiting for DFD to have their variation meeting which took 5 weeks to schedule.

in response to the post by indebtforever, i plan on using the equity from the sale of my house but I don't know how much would be a reasonable offer and i didn't know about the fees being less etc.

[indebtforever]

it will tell you in your report the cost of the fees each year mine is £1200 +vat per year.were creditors hoping for a large equity release?

[Viki.W]

Good luck Lollie, I can't offer any advice on the F&F but Melanie will be around soon and she may be able to give you a better idea. Crikey this has gone on and on, you poor thing. X

[lollie]

thanks for your concern. have to go to work now but will be on later tonight to see if there are any updates.

x