FF payment question

[Helpless121]

Hi all, this is the first time I'm posting but have read comments and used the forum as a help source since starting my IVA in Dec 2007.
My question is this.
I've been told by my Dad that he is happy to help to pay of my IVA which would have ended Dec 2013 but due to being unemployed from May to Dec 2012, GT agreed to add the months I missed to the end of the term, so Jan-Aug 2014.
I have always paid religiously, £270 a month and just want this to end now as it would have in Dec this year.
I called GT and asked for the final figure they would accept which was £2300 which Dad has agreed to pay off.
I have a phone interview tomorrow to give GT info so they can put this to the creditors. I don't see it as a problem that my offer to pay the remainder will be refused which Dad can pay straight away but how long does this procedure take to complete after my interview as I read it could take upto 6 months (which I really don't want to do) and for GT to seek approval and how long does it take to get a certificate to say my IVA has been paid in full?
Also, I've read that I would be still be seen as having an IVA for 5 years, is this from the start of my IVA or from the date the IVA is completed?

Any help would be much appreciated as I am looking forward to getting my life back as it was a greedy ex wife who pushed me into this as there was no way she was prepared to pay the 'family debt's' after the split so I ended up with the debts and she ended up with the kids, the detached house I paid for and everything else!

Have to say though, I have remarried and have the most supportive and beautiful wife now and a life that I am content and happy with so once this IVA is over, I will be free from the ball and chain that was the greedy ex wife! [:D][:D]

[Michael Peoples]

I am not sure how long GT take to propose variations but be sure to make it clear that the full and final offer decreases by each monthly payment you make. Otherwise you could pay another month or two and be offering more than is needed to close the IVA.

Your credit file is damaged for six years from the date of approval so the early settlement will make little difference as most bad info will fall off by the New Year. Best of luck with the full and final offer.

[Helpless121]

Thank you for the prompt reply and its very much appreciated!
When I spoke to the IP at GT last week to set the interview for tomorrow, she said that I owed £2650 as of last month so factoring in that I've just paid this months £270, that leaves £2350 which Dad is prepared to pay off straight away. I'm just going to call them now to make sure they realise that the money includes the 8 months of payments I missed whilst I was out of employment so any payment made will be less £270 for each month that passes.
It worries me they may want more but I just want this over now and want to be able to breath again before xmas but maybe I'm being too optimistic as from what I've read there has to be a meeting of creditors to approve the offer, despite being the figure that I would have to pay until Aug 2014, not sure why it can't be dealt with quickly considering I don't have equity issues etc to deal with like some people have had. Fingers crossed!

[Tina Shortland]

Hi Helpless121 welcome to the forum, pleased to read you have been with us since 2007 and getting help even though we didn't know you were there - this is true for 1000s of people on here who get what they need from just reading others' posts.

Fingers crossed indeed! What a lovely supportive Dad you have and I am glad to read that outside of the remaining financial issues to sort out you have turned your life around and everything else is going well.

We'll keep our fingers crossed for you and let us know how you get on

[Helpless121]

Thankyou Tina. This forum has been very helpful and I now have some news after speaking to Grant Thornton just now.
It would seem I don't need to have a telephone meeting tomorrow so this has been cancelled as the young lady I originally spoke to had got all confused and didn't understand what I was saying to her.
As I am just paying the arrears that I had built up over the 8 months of unemployment with one outstanding payment to end my IVA in December as it was originally ending, Dad just needs to call in now with my ref and just pay the arrears and thats it once I've made the FINAL monthly payment for next month!

I WILL BE A FREE MAN!

I can't believe it and I am happy I would have paid off the family debts and its making me feel good and now both my wife and I can pick up and try and get life back on track with no debts to worry about!

I only have good things to say about Grant Thornton as they have been helpful from the beginning and understood when I lost my job last year, with no badgering for money as I kept them informed all the way and started payments up as soon as I got back into work.
I would recommend an IVA and yes, its hard at first to make a decision like entering into one but overall, I've managed to pay off most of the debts my ex wife left me with and now she can go and jump of a very high cliff!
I have one piece of valuable advice for anyone else faced with the same dilemma of divorce and debts as I was faced with, talk to a reputable debt advisor ,CAB is a start as I did, and don't let divorce beat you as there are ways like a DMA or IVA that can help get your life back on track. I can only say that until you've taken the first step and accepted it needs sorting, you won't know whats possible.
Remember, what goes around, comes back around, look at me, I'm now in a better position than I ever was when I got lumbered with the families debts and nothing to show for the years and years I spent working hard and paying off for stuff I hadn't realised my ex was leeching of. Be brave and take the step! There is life after debt. I'm proof of it. Good luck all

[Michael Peoples]

Great news and an excellent decision by GT. Best of luck for the future and hopefully by January your credit file will be cleared too.

[Helpless121]

Thank you Michael. I hope its clear by then but can I pick your brains one more time please?
Would I have to call the credit referencing companies to tell them I'm clear of the IVA and then send in the certificate to them or does the update happen automatically via GT/Creditors? Thanks

[Michael Peoples]

It should be done automatically by creditors as your IP would have no say in your credit file. Check in January if anything adverse is still showing and if necessary contact the creditors directly and have them remove the defaults. Many debts are bought over so if you see a name you do not recognise ask GT for their contact details as that would have been the creditor who received the IVA money.

[Helpless121]

Great, thank you Michael. You've been most helpful Sir.

[Michael Peoples]

Pleasure.