Redundancy and Loan Settlements

sabelu

Hi I am likely to be made redundant in the next six months and I have two loans that are nearing their term end and a couple of cards. Altho my redundancy pay will see me through for payments for a few months (6-8) would companies at this time consider giving me a settlement figure if I am upfront and honest regards the situation at that time that gives me a cleared balance and a reduction in cost of the loan over the term. Or are they likely to want me to continue with the monthly payments to the point that my redundancy settlement is zero and they risk nothing back. What advice would people have and are there any letter templates anywhere that address this?

james32_uk

This is the IVA board - you should post on the Debt-Free wannabe section. I suggest that you contact CCCS or Payplan who will give you free advice on what creditors are and arent likely to accept.