I would think this is very likely to be accepted but there could be no guarantees. Some creditors can be more difficult than others but with standard creditors I think you would be fine. The timescale cannot really be improved upon as creditors normall request a months notice of any variation.
Ask your IP to take soundings from the creditors or even shorten the notice period to 16 days for the meeting. This would require creditor approval but under the circumstances I see no problem with them. Very best of luck.
My layperson view is the numbers look good but it is a massive risk to sign the acceptance if they refuse and you sign the letter.
Is there any chance you can ask your employer due to exceptional circumstances if you can delay or indeed have the money paid to a third party you trust or indeed into a trust in your name that does not grant you the money until today plus 5 years for example ? I.e. So you technically would not have any windfall until IVA has completed if you had to do full term ? May Cost a few hundred to have a solicitor set it up, but depends how much they could take in total of the windfall. Perhaps it could have a clause that stats the 5 year term is changed to 2 weeks I the event the trustees all agree it is in your best interests (person you trust) , sure a savvy solicitor could sort it/hold in escrow under said trust ?
My Blog details, the route I took before IVA, how I choose my firm, equity release advice (year 4-5), challenging the CRA's keeping IVA on credit file once gone from insolvency register
IVA ended August 2015. Would recommend McCambridge Duffy
Thanks guys. I spoke to the variation team leader today and he put my mind at rest, saying they could call the meeting around end of october. I need to send over payslips and proof of redundancy offer. Also he says they need a mortgage redemption statement and house valuation. Hopefully it wont be too long until i have a date![:)]
That sounds like positive news - fingers crossed for you.
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
Hi everyone, just heard from Payplan, our Variation meeting has been scheduled for 28th October at 1pm. Me and my wife have everything crossed and can't wait until then. Payplan have been brilliant over the last couple of weeks, I would recommend them to anyone.
Great news - Payplan were good for me with my F&F and it was accepted and completion letter received 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
Hi, me and the wife have our variation meeting tomorrow at 1pm to see if our creditors have accepted our F&F offer, to say we are feeling nervous is an understatement. I don't think either of us will be sleeping tonight.
Last edited by colin178 on Tue Oct 27, 2015 5:54 pm, edited 1 time in total.
Good luck colin. Hope all goes well. I know how you feel. Felt same back in September but all went well and both mine and my wife's F&fs were approved on 21/9. Told I should have completion certificate by end of this week and then it will all be over.
