IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
sounds fair - one thing to note that i was shocked at, was that my F@F was a fairly small amount (1k) and this was calculated by simply multiplying my remaining payment by my months left, but i got stung with a £300 admin fee for calling the variation meeting! £300 for 2 letters and an email can't be bad!
F&F Accepted on 12th March 2015!
Completion Cert arrived 26th March 2015!
My creditors agreed to £500 for my variation -- but GT only took £300. Standard practice I am afraid.
If there is enough in the pot it usually comes from there, relieved, otherwise the debtor can be asked for it. At the end of the day, my pot was a few quid short but GT waived it.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
It was you saying you got stung with the £300 that made me wonder. Creditors got stung with it then! I do wonder just how much creditors pay in fees by means of reduced payments.
At the end of the day its another case closed, money in earlier than expected and therefore less admin.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
The variation fees are standard practice but creditors do usually save on the additional administration costs that would have been spent had the case continued to closure in the original way.
