A question re: F&F

Legacy_user

Ok, this is a long one so bear with me.

I have a small IVA (Sub 20K) and was plodding along as you do.

Recently due to a job change and stupid amounts of overtime, and the rate I am going I could pay the entire 100% of it off within a few months.

I was stupidly upfront with them and they know I have over 10K in the bank from the overtime.

Now they are telling me that i will probably complete 2 - 3 years early and pay back 100%, which I don't mind. However I really detest the idea of them sticking another 5.something K on in fees etc (15% management fee and 8% interest)

Im half tempted to spite them and refuse the OT (ATM several K a month), but thats hurting me more than them. It will only last a few months also, this crazy OT.

As it stands, I have about 1.5K left on the IVA if I pay in this lump sum, before the big nasty fees. The fees just blow it up and means I will probably complete a few months early, with no benefit to me.

Any ideas on how to approach this, as I am a bit peed off as you can guess, but I want it gone at same time.

Is there any point trying to negotiate, or speak to my creditors direct. I am that annoyed I may just be a PITA and sit out the next few years.

FoggyBrain_2

Hi. I am afraid those figures are pretty much standard throughout the industry and what you signed up for and agreed at the outset.

I know it's a PITA and somewhat galling, but, if t'were me, I would be happy to get it all done and dusted asap --- then, after it's complete your life and your money is yours again.

You are not allowed to contact your creditors to negotiate directly and Payplan are pretty well nigh on impossible to negotiate with. However, I would get confirmation of all figures in writing from your IP -- not by word of mouth from an office administrator.

Best of luck, whichever route you chose.