plez help - advice needed on f&fs

vera123_2

hi all - i am new to this so plez bear with me.

i have been on dmp since March 2010 - debts at moment are in total approx £14, 000 to three debtors. have just been informed there is the high possibility i will be redundant in June 2011. have been with employer for 15 years so i am expecting a half decent deal.

my dilema is that i am unsure should i declare all of my redundancy payout - should i try to get f & fs before redundancy is paid into bank account, otherwise i will more than likely be left with nothing.

also, how much should i offer each debtor and how long before should i ask for a f & fs before i actually receive my money.

i really hope someone out there can help me

many thanks


vera123

david_hellier

What is the expected payoff amount?

vera123_2

hi David - many thanks for replying.

i am expecting approx £15, 000 but with two children and not expecting to get benefits, will have to keep some of this back to keep me going.

As i said, my total debt is approx £14,000 - i am hoping to offer £7,000 of this to all three of my debtors.

Bank of Scotland CC - total owed £10,000 - offer £5, 000
Bank of Ireland CC - total owed £4, 000 - offer £2, 000
Overdraft - total owed £292.00 - offer £150.00

i am unsure if they will want the whole amount. was going to try get in writing (if they accept of course) the settlement offers before getting redundancy payment that way, they couldn't come after all of it! could they?

have also just been told that i won't get redundancy pay until end of august - i am unsure when to start the process of f & fs?

Any advice would be greatly appreciated

Vera123 x