Full/Final Settlements - DMP IVA

Iron_Pyrite

Afternoon all, I am in a bit of a pickle - after a long battle to change income outgoings etc I have to accept I cannot pay my debts ( 3 years of no credit and payments reducing from 55k t0 33k approx ).

Having been made redundant in November I stopped paying loans back - I realised I was unhappy and am now making a vocational change. am doing a course now and in September I will be a part-time student for 1 year ( academic ) followed by full time student for a year. Converting my degree to another one so I can pursue a career in psychology. In conjunction with this I will be ih two years of training towards being a qualified therapist.

In short in 2 1/2 years I will be able to start to get a reasonable salary, in the mean time I am working part -time (30 ) hours to pay for it all - I am not allowed any benefits, I have also got a mate to move in to halve my out goings.


HSBC ( 19000 consolidation loan was 24,500 ) I have spoken with them and said I would send a F&F settlement letter - not sure how to go about this though??

A&L have misplaced my loan ( was 25k now 13,500 ish ) I have spoken to Abbey/A&L Santander and 6 collections agency and nothing.. I just sent them my second letter demanding to know whats going on as I am in dire circumstances.

deferred student loan of approx 3000 from 96-99

no other debts/overdrafts etc.

I have some utilities bills to pay extra on and explained all this to HSBC - I am hoping they allow a F&F as I can borrow a few grand off parents ( maybe 5 ) I just thought I would get some advice ans all these numbers are spinning around my head...

Cheers -