Irresponsible lending: Offer

in Debt-free wannabe
2 replies 1.2K views

I was offered the below from an irresponsible lending claim but I'm struggling to understand what I can actually expect to get. Does anyone with experience know what all there terms mean, including waiver etc

Total Owed to you £ 2520.01
● Total Waiver Amount: £ 1417.11
● Total Refund Amount £ 1102.9
● Total Outstanding balance after the redress: £ 0


  • I think that your current balance is / was £1417.11. They are writing this off (waiving it) so you no longer owe it.

    They are also refunding you £1102.90 (of interest or payments you have already paid?). This is the amount you will actually receive.
  • sourcratessourcrates Forumite
    26.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I concur, £1102.90 should be your refund.

    I had your post moved over here as these kind of posts get contentious responses in the forum you originally posted in.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
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