Help.. F&F process GT

[bombshell]

Hello, can someone explain to me the full process of F&F settlement process with GT? I've just had forms to fill in and they look scary...!! All I want to do is end my IVA early because I want to take away the stress I'm being on an IVA. A family friend has offered me a gift payment to end it early even though I could carry on my payments because I CAN afford my monthly payments. At the same time I can produce and show my house is in negative equity.

Any help would be appreciated.
Thanks

[Foggy]

When I did my F&F with GT all I had to do was produce an up to date I&E ... no house, so didn't need to worry about that.

[bombshell]

Cool. Did you have to produce bank statements, expenditure receipts? Payslips? All this is mentioned in the letter.

The form states 'change of circumstances' all I want is pay it off early by way of a gift payment by my friend..

Thanks foggy

[Foggy]

As I recall I sent in three months bank statements and payslips and a copy of the ex's new rent agreement. They took our word for it regarding other expenses (which for me had largely remained the same as in previous reviews anyway).

[bombshell]

Did you post the bank statements and payslips to GT? Or were they collected by courier?

It's says on the form that they will call me to send a courier in but they're have never done that before...

Thanks

[Foggy]

No courier -- I scanned them and sent by email. Never during my IVA have I parted with originals --- they are all too easily lost.

Apparently GT have a massive postal backlog at the moment -- maybe the courier is to ensure that you don't get lost in that jam.

[bombshell]

thanks for that foggy....

Here comes the painful bit for me..

I have moved from my house which is down as an asset in my IVA and paying a mortgage in. However, I haven't told GT that I have moved.

The property is lying empty but I am paying household bills etc in the flat that I am living rent free in.

How much trouble will I be in with GT if they trail through my bank statements and see transactions/direct debits that have no connection in the same town as my house?

I never thought they would ask to see my bank statements at the end process of an IVA.

I'm thinking I should tell GT I have moved away but will this created a breach and other problems with my monthly payments?

Feeling stressed....

[Foggy]

Hmmmmm. In the terms of the arrangement you are required to tell your IP of any permanent change of address. It could be argued that the house is still your main residence.

I doubt that they will trawl through the bank statements in any great detail ( they simply do not have the time). Does stuff like the council tax for the house still come from your account ? In whose name is the council tax for the flat ?

[bombshell]

I have just drafted up a covering letter to say I have moved out due to severe damp issues which I do. And that I have moved in with a friend. I have also said I pay no rent but pay utility bills for my keep which reflects the attached expenditure form. Will this be okay or will it throw a spanner in the works?

Yea the council tax shows on my bank statements for the flat that I currently live in and the council tax is my name.

[bombshell]

I pay no council tax for the house I own. Just council tax for the flat I live in

[Foggy]

On a separate issue: Do you have an exemption for the ct on the house ? We wouldn't want you to find yourself landed with a bill for that house too later on !

[bombshell]

What is a CT?

Thanks,

[Foggy]

Council Tax --- if you are paying the tax at the flat the local authority where the house is will either have to have an exemption on the property, or will be after some money at some stage.

[bombshell]

sorry... I have people staying there so they pay the council tax

[Foggy]

That's OK -- from the tax point of view ---- one less thing to worry about.

Fingers crossed that GT are happy.