F&f settlement for 6th yr????

shelene

just to update had a difficult morning getting advice on this - FSA - not there area, CAB wont touch it, consumer direct - not there area, all advice lines wont give advice, and also solicitors wouldnt give a 'free' consultation lol, i wonder how one is to gain expert advice on this issue, all reffered me back to get advice from the IVA company

anyhow DFD have mentioned that I must have signed a modifications document and so the extra year still stands - i have told them i want to view it before i sign for this variation - they said they will have to request the paper file from storage to send me a copy in the post - i guess i will wait and see???

milliemonster

I should imagine that if you have a minimum dividend to reach as stated on your original proposal and the fact you now have no equity to release to reach that dividend (which is today's climate you wouldn't be able to release anyway even if it was there), this is why DFD are saying you need to extend for a further year to meet the dividend, but you need to clarify with them what your projected dividend will be with a further year's payments? will it still meet the 61% if you had been able to realise the original equity planned? if not then you could argue what will happen at the end of year 6 when you still won't have met the original dividend agreed?