Hi all,
I'm new to this, and trying to help out a friend who has a debt secured on her house. The settlement figure according to creditor is over 32k and includes early redemption charges - which is still more than the original loan despite the fact that she has paid them over £20k already.
My question is - do such companies ever accept full and final settlements for percentages given that they presumably have the option of forcing a house sale to get the full amount (there is equity in the property in this case)
If so, what sort of percentage wold be appropriate to offer ?
nb) she isn't in arrears as yet - it is simply that her husband has left recently and so she can longer pay and is very worried.
Any advice on how best to proceed would be appreciated.