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House sale equity for debt use query. Help needed
petermog
Posts: 30 Forumite
I had a bad gambling problem a few years ago and have since been paying my creditors regularly through step change.
I am currently in the process of negotiating with my creditors a share of the capital from my recently sold house. I seem to remember seeing somewhere about being able to keep a percentage for reasonable personal use.
Does anyone know what I can claim as justified sums. I have cleared most of my debt at around 25% of the debt as full and final payment but a few creditors are playing hard ball and expect more so stepchange is approaching them for me and need to know what the rest of the money has gone on so I have to justify any saved/spent amount.
So far I have been able to clear nearly 40k of debt with just 12k capital and stepchange have 11k for the remaining 36k.
Any official figures I can use in my argument for keeping some funds would be appreciated
I am currently in the process of negotiating with my creditors a share of the capital from my recently sold house. I seem to remember seeing somewhere about being able to keep a percentage for reasonable personal use.
Does anyone know what I can claim as justified sums. I have cleared most of my debt at around 25% of the debt as full and final payment but a few creditors are playing hard ball and expect more so stepchange is approaching them for me and need to know what the rest of the money has gone on so I have to justify any saved/spent amount.
So far I have been able to clear nearly 40k of debt with just 12k capital and stepchange have 11k for the remaining 36k.
Any official figures I can use in my argument for keeping some funds would be appreciated
No reliance should be placed on the above.
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