Hi I read this forum quite often as I find it very helpful. I want to know how long it usually takes iva company to put forward full and final offer. I have been advised it will take 12 weeks just to do this? Just thought it seemed rather long and would appreciate any comments.
It does take a while as they have to draft a proposal, send it out to you for signing and then schedule a creditor meeting.
I believe once you have submitted everything they have to call the meeting within a month.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Mine was 28 days after I put the offer forward and the completion certificate arrived the following week. Cannot fault Creditfix for this part of their operation; they were amazing.
Once you have given your IP all they need they should call the meeting within either 21 or 28 days (depending on your terms) then creditors have to be given 2 weeks notice of the meeting.
So between 4-6 weeks to get your answer (if you have provided the IP with everything they need).
We first made contact at the end of November, at that point we sent them a mortgage redemption certificate and a house valuation along with a letter from us and from the 3rd party and have a meeting on 10th March. So over 3 months for us.
Fingers crossed it's not so long for you.
Nmc
