full & final now or later?

Hi all,

Just looking down the line.

I may soon have a lump sum to nearly pay off all my debt. I am making reduced payments with interest and charges stopped.

My debts are only 1 year old.

Shall I try and F&F settle now or, as i'm on zero interest, carry on with my payments and settle later?

Hopefully, by carrying on with my payments, I am chipping away at the debt, earning interest on my lump sum and the debts are getting older so I stand a better chance of making lower F&Finals.

What do you guys think?


  • GeorgeUKGeorgeUK Forumite
    7.7K Posts
    If interest and charges are stopped, i would wait a bit longer. Possibly when they ask to review your payments would be a good time to make an offer. It may depend on how long it will take you to clear the debts at the current repayment level and how long it would take them to recoup the amount you are going to offer.
    After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91

    Dad Gift 6k ¦ Savings & Inv Tst: £2,500
    Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0

    Total Owed: £2,270 (+6k) 11/08/2011
  • Hi,

    Thanks. I may as well use the 'interest free' period.

    Anyone else? Anyone actually doing/done this?
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