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Full and final settlement help
mattblue
Posts: 104 Forumite
Hi All,
My father is currently on a DMP - he is 63 and has a debt of 38k.
There is no way my father will pay all the debt off as his DMP states the will be over 100 before it clears..
As he is on a DMP with payplan and currently not behind payments would it be possible to offer the companies a F&F settlement ?
Thanks
Matt
My father is currently on a DMP - he is 63 and has a debt of 38k.
There is no way my father will pay all the debt off as his DMP states the will be over 100 before it clears..
As he is on a DMP with payplan and currently not behind payments would it be possible to offer the companies a F&F settlement ?
Thanks
Matt
Pay One Debt 2012 Challenge #62 Next £10.65/£410
0
Comments
-
Yes, it can be done but depends on a number of factors.
You will need to say how much you will have available as a lump sum to split between the creditors. Are these debts still with the original companies or have they been sold onto to a debt collection agency?0 -
Most have been passed on yes. my dad is going to take a lump sum of around 13k and try to pay all of them off.Pay One Debt 2012 Challenge #62 Next £10.65/£4100
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