Full and Final Settlement

[MRBLUESKY]

i think a lower offer would be accepted,can you post more details about your iva payments,dividend etc.

[kallis3]

It sounds like an excellent offer to me as well, and I am sure they will snatch your hand off with offering such a good return.

We do have a poster from DFD on here who may be able to come on and give some advice in the morning.

[Mr Hadenuff]

ty all for your advice. I am making an honourable offer they should not refuse. We never wnated to run away from our debt and the IVA was what we bought into. Call me naive but I prefer to try to mkeep my word. Isn't that what makes the world go round?

Anyway....our proposal is deemed viable and it will be put to the creditors after drafting.

As for wanting more credit....roflmao.....do I really want the maggots of the finance world to get their hooks in again......???????

Beleive me ...there are other ways of living ......and I will avoid at all costs borrowing my life away for the invertebrates who skim the life blood from us.

[Mr Hadenuff]

Spoke to the drafter yesterday and she advised it will take 4 weeks before I can see it and sign...then another 4 weeks during which the creditors will be asked to meet. Fingers crossed I will make my last IVA payment at the end of October 2009.

[MelanieGiles]

Whatever your IP feels about the offer, they are obliged to put it forward for you - so give them clear instructions of what you want them to do and sit back and let the creditors decide. Personally I think your offer is a reasonable one.

[Skippy]

Gppd luck, let us know how you get on x

[Mr Hadenuff]

Don't you think 4 weeks is an inordiante time to prepare such a proposal?? I could write it in an hour.....is this their way of stalling for time and money? Would appreciate any suggestions as to how to rebuild my credit rating. Was with Orange since 97 and stupidly came off contract in January this year. After years of being chased by them and their sales agents for new phone contracts I am now an Experian pariah...even for their monthly contract. Yet I have never defaulted on them. Like Lloyds they are there for the journey....ahhahaha so long as you are a squeaky clean credit risk. Never have I know this level of disenfranchisement by the men in grey suits who just blew the UK's economy apart with their smart ideas to make money.

[Max]

I agree with you about the banks - one of the Maxwell siblings is in an IVA - I wonder which bank has taken him on - he still seems, from the papers, to be living very well! J

[Mr Hadenuff]

Signed and returned the variation proposal Monday gone. Gingers now crossed!

[kallis3]

Good luck from me as well.

Don't forget that your credit rating will be shot for the whole six years, regardless of when you settle your IVA.

If you have defaults showing on your record after the date the IVA was approved, write to those particular creditors and tell them to remove the defaults as they are not allowed to put them on.

[Mr Hadenuff]

The creditors meeting was held yesterday. They accepted and we will pay them Monday! Now we begin to rebuild our lives. I have asked our current bank if I can switch to a current account as I need to have one separate from my wife. Have been told it is at thier discretion. I have been advised to take a credit card with low credit limit. Is this possible....surely I dont have to wait for the IVA term to end...in 3 years, (we have early settled after 3 years?

Also need to switch from the crippling pay as you go mobile to a contract...how soon can I do this?

As for property rental.....I found that a housing association would nto entertain anyone with an impaired credit background.....so helpful!

[Mr Hadenuff]

PS Thanks to all who have helped over the past years and recent months.....I am grateful for this site and the IP debt management firm who were highly professional. I dare not say what I think oif Jeff Randall and the Queen of Banks...Angela Knight who have both spouted the script from the banking world. Shame on them.

[MelanieGiles]

Great news about your variation - very well done to all concerned and good luck for the future.

[Michael Peoples]

Well done from me too. It may be difficult to get a credit card even with a low limit but if you do it will help rebuild your credit file. Good luck.

[Mr Hadenuff]

Full and final was accepted in October 2009. However I am yet to receive a compliance letter as one creditor has yet to make their claim. Originally I was told I would have this by February, then March, then April. But the IP decided this month that this last creditor should have a further 3 months to claim. Annoying. I am still controlled by the IVA. Having to pay 6 months advance rental to secure accommodation. I have another 18 months before I can even consider having a savings account or credit. For those that say this is easier than bankruptcy I would say not. Including the preparation of the IVA and including the 60 months until it is removed from the record...it has taken 7 years of my life to make good. By which time I will be nearly 60 and still I will be treated like a credit pariah. Looks like Greece will need an IVA????