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[indebtforever]

ahh sorry the funds are from his own money not from a bank loan.

is it possible to to do a full and final in the future ie i am to lose my shift job and work days this will come about in october could you offer a full and final as of today even though you will pay for 4 months more and then offer the lump in october or is it just better to wait?

[MelanieGiles]

I thought that would be the case - in which case if I were your IP I would want those funds on deposit under my control before making the offer to creditors. In which case I would be able to do a combined chairman's and final report within four days of the meeting and close the case for you much earlier.

I would make the offer as soon as you can to be honest, on grounds that you know that your income is to be reduced in three months time.

[Adam Davies]

Hi Mel
I understand the reasons for you requesting the money in your vfirms accounts before putting forward a proposal,howeverI personally would feel uneasy about this and would be concerned that this money would not be returned if the offer was not accepted[obviously I know that you would return it no prob]
I can see a long battle with some providers in getting this back.
Regards

[Soulgrowth]

When I put forward my F&F my IP asked to see a copy of my bank statement so that they could see the money was there before they put forward a variation meeting ... I didn't pay over the monies to my IP until after the F&F had been accepted.

Debbie

[MelanieGiles]

The majority of IPs are good and decent people and most of us would not dream of holding onto third party money for no reason - bearing in mind that the money belongs to the third party at all times until the offer has been accepted. I guest that sometimes we just see the badness reported of IPs on this forum, and this can taint the image of the majority of the good professionals.