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Hello, my name is ***** ***** I am a qualified lawyer happy to help you today.
How was the £12,000 agreed? Was it assessed by the court or an agreement between your nephew and the other side?. His best bet is to use Step Change (a free to use debt charity who would speak to the other side on your nephew's behalf to come to an agreement - possibly with a view to reduce the monthly payments or to offer a full and final settlement figure of that £3,500).
OK, the court has likely made a CCJ for that sum. It would be entirely up to the creditor (the person your nephew owes the money to) to consider proposals. I know of full and final offers being made in situations like this one - a lump sum is attractive to a creditor as it means they get a lump sum instead of several monthly payments.
It would come down to negotiation and it is not a legal question as such - lawyers like myself know how to apply to the court and vary orders but insofar as debts are concerned, the remit would be with someone such as Step Change (http://www.stepchange.org)
Hi, I have said that it is not a legal question and is a debt-related issue. You can obtain advice here on court procedure and insolvency issues but I will have to opt out to let another expert assist you. Please do not reply as it will come back to me and there will be a delay. Thanks