How long should it take to complete a full & final

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derek.a

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Post by derek.a » Fri Nov 02, 2007 11:45 pm
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How long should it take to complete a full & final settlement and is it correct that the IP must have contact with the person providing the funds if they are over 7000euros to confirm that they are not laundering money
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MelanieGiles

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Post by MelanieGiles » Fri Nov 02, 2007 11:47 pm
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Hi Derek and welcome to the forum

The IP must satisy himself/herself that the funder of the third party settlement is genuine, and it is usual to obtain a letter of intent from the third party prior to submitting an offer to creditors.

The timescale for closure will depend upon many factors such as the time it takes the third party to remit the monies, and the agreement of any outstanding creditor claims.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp
Regards, Melanie Giles, Insolvency Practitioner
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