Just a quick question . I have a variation meeting today due to Nram changing me back to a repayment mortgage from interest only and as a consequence reducing my payments from 700 a month to 220 a month to my iva . I am 4 years into an IVA with 2 years remaining having the no equity clause built in .
I estimate that i have £5200 left to contribute at £220 a month for 24 months . What would you say is a fair F&F should a friend be able to help me out here . I dont want the further 2 years in truth and could potentially lose 180 of that due to the child benefit payment cap .
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Andy Davie
Hi
Sounds a good offer because of your change in circumstances
Regards
Thanks Andy for a quick response . I dont know what a resonable offer would be given that £5200 of monthly payments still remain should the variation be accepted . I have some ppi claims being investigated and i am hoping to us this as an additional payment vehicle .
PPI repayments will not be factored into a full and final payment, as a general rule. This is regarded as a "bonus" for the creditors and they will still be expecting somewhere near to whatever you are due to pay under the agreement current at the time of the offer --- in this case pretty close to £5k.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Hi all
Just wanted to let you know that the variation was accepted .
Thanks for the advise.
Nram had increased my mortgage back to repayement and that was a sizable increase in payement that impacted my ability to pay the agreen monthly IVA contribution .
Alls well that ends well .
Took The plunge and made the call, changed our family life and we have never been happier. Debt free and wont go back..... IVA was by far the best thing we ever did to teach us the real value of Family and money
