Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

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By chrissy
#56847 Me again!

IP said previously that creditors might settle for less than full amount due to them (which is the same as when we started the Deed as the fees have taken care of all the payments)
Has anyone any indication of what percentage of the total that might be and should we hire someone to handle an offer to the IP of an amount or do it ourselves?
Also, Building Society we have the mortgage with indicates that until we apply for an amount we won't know whether we can get it or not. Does this sound right?
And if we can borrow from the Building Society would this be a whole new mortage or an additional one?
Any advice appreciated.
Look forward to hearing from you