samdad
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My father in law took out a secured loan£20k loan at 14% interest. He has paid £16,000 to date and missed 5 installments due to loss of job. (no ppi was taken) He has since arranged to pay an additional £100 a month to cover the 5 month shortfall. When I contacted them for an early settlement figure they said it would be £29,000. This is £9000 more than the original loan and he has paid £16,000. TBH - I am no expert in maths or credit agreements but this seems extortionate and wanted to understand what the best way of dealing with this would be..
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Hi there, helping out my father in law. He has 10 creditors and an arrangement to pay set up for 9 of them. During the course of paying the creditors my father in law has received early settlement vouchers. Do I need to contact the debt management company to negotiate early settlement or can I contact each of them individually? Finally does anyone know what a typical settlement % a debt collection agency is likely to take? Thanks Sam
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