Roughly How long for a proposal etc

[pleasehelpme22]

Hi

Sorry Just posted in April accidentelty

Just wondering how long roughly it takes to recieve a proposal from your IP after giving them your information / documents etc?

and once recieved if all is ok just curious to know how quickly a creditors meeting is arranged, ive obviusly not done this before and have lots of little questions floating about in my head.

Im with Melanie Giles but dont want to keep phonig over little silly things like this, guess im just curious about your own experience and wondering how long the process takes?

Tanya

[Lola]

From our first meeting (April 2) until our IVA was approved (today!) - it was a month.

Good luck x

[pleasehelpme22]

Wow that was quick.

When you say first meeting , do you mean first creditors meeting ??

Also BIG Congratulations on your IVA Approval, it must be a weight off your mind... Enjoy!

Tanya

[sblack]

Hi,
I am with Melanie and it did not take long at all. If I can rermember rightly it was about 3 weeks each for both processes you mention. Melanies staff are more than welcoming to your queries so do not worry about that. If you have any questions regarding the process and your case please do not be afraid to ask them, they are there to help you.

[Lola]

No, first meeting with the IP on April 2. Independent finance guys came around 3 days later. By April 11th our proposals were drafted and with us for signing.

They were lodged at court and sent to creditors on April 14th. Our first, and only, creditors meeting was today (May 2) and it was approved - phew!

[MelanieGiles]

That's amazing that your IP was able to do all of their independent verification work within 9 days Lola - I would say almost a record! Did they actually write to all of your creditors and independently check the balances in that timeframe?

[Lola]

We did a lot of the backwork for them I suppose. We had a lot of up-to-date statements already at home, had all our payslips and bank statements ready for them too.

In the interim, we then phoned our creditors and asked figures that would be used if we were to pay off that day and then requested that in writing. As and when they arrived over the next week or so, we just forwarded them to the office.

I also had to email them a brief history of how we got into the debt to the IP to use in the proposal.

By the time the independent guy came to the house we had all the paperwork for him and had also done an I&E for him, by using the CCCS guidelines on how much we could have and what would be acceptable.

Anything they needed verification on, like childminding contracts, playgroup fees etc was all there ready for them.

He spent about two-and-a-half hours with use, checking and scanning all the right documents, which he uploaded onto a server and Ensors picked up the very next day.

We had been upfront about the timescale right from the start, so we were really organised with all the paperwork and had one of their guys onto it right away.

I still can't quite believe it myself - but they were excellent.