Offer to end IVA accepted!

[ray_a]

Good Luck

If you are offering to do this don't go any more than the 100% distribution!

Basically just clear the total debt in the IVA and nothing else please!

[bobs]

Hi all

Many thanks for your replies and good wishes, it is so nice to know that you are not alone in this and the suppot generated through this forum is nothing short of fantastic. The meeting went well although the Ip was a bit cagey about what fees were left going forward although the documented fees for the complete 60 month period were approx. £8800.00. Once the savings have run out in Feb 08 the balance remaining will be £7800.00 hecnce the offer was pitched at £5000.00 for full and final settlement. I will keep you all informed as to the progress
Take care

Bob

[bobs]

Hi all

Just wondering if anyone knows of an "average time" for a full and final settlement outcome to be completed?. The person who is dealing with our request at IP is off sick at present and will be 2 weeks in on Monday

Cheers

Bob

[MelanieGiles]

IPs are very busy people at the momebt, but I would have thought that your offer could be put forward over the next month or so.

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

[bobs]

Hi all

Just a quick update IP has advised that it would be beneficial to deposit the suggested final figure sum in their bank before the offer is made.If it is rejected then the monies can be returned. Can anyone please advise as to is this best practice?

Cheers

Bob

[Adam Davies]

Hi
That's a strange request and I personally wouldn't do that.Show them proof[bank statement] that the funds are available but don't deposit it with them.This is just my personal opinion,I'm sure that others will have a different opinion.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Don't necessarily agree with you on that one Andy - I often ask clients to deposit the monies with me as a gesture of their intent and of course we can then do a combined Chairman's Report and closure report within 4 days of the meeting bringing things probably to a much earlier conclusion.

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

[Adam Davies]

Hi
I think that I would only do that if I had a very good relationship with my IP.
Can you imagine trying to get this money returned from some of the larger IVA providers if the F+F is not accepted ?
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[MelanieGiles]

Never thought of that one actually - you tend to just focus on what happens in your own practice, but you may have a point! Would you have been concerned about your own IP?

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

[Adam Davies]

Hi
To be frank yes,not that I thought that they were dishonest but I could just envisage delay after delay in returning the money.
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

[bobs]

Hi there

Well it is done a cheque for £5600.00 was handed over to the IP today in hope of full and final settlement.Some mixed emotions came through, thought I would feel relief but there is still the nagging worry that it will not be accepted, still only approx a month to go before the outcome.

Keep smiling

Bob

[debbiw]

Good luck Bobs![8D]

[bobs]

Hi

Just a quick note to say many many thanks for all the support from all of you on the forum it is much appreciated. We have just had confirmation that the creditors meeting has been set for 9th Jan 08 for offer for full and final settlement. It will be a long xmas and new year but hopefully it wll be worth it.

Just keep thinking positive as there will be light at the end of the tunnel and i know it is a bit early but happy x mas and i hope you all have a wonderfull new year.

Bob

[debbiw]

Good news Bob, Have a fantastic xmas and I'm sure it will be fine on the 9th x

[mikebdomain]

Good luck for the 9th Bobs

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