I made a full and final offer at the end of January. It took till the middle of April to get the paperwork back detailing my offer ready to sign. I have been given my creditors meeting date of 25th June today. I am still paying my monthly payments £220 a month If I had known it would take almost 6 month and over £1200 more into the plan my full and final offer would have been less that amount. Is this a long time to be waiting or is it average.
It is a long time waiting ... normally you should be looking at around three months .. but many things can get in the way of that.
That said, your IP seems very relaxed over the timings ... for instance, creditors only require 28 days notice and he appears to have granted them an extra couple of weeks!
Shutting the stable door after the horse has bolted now, but these offers should be worded so that the offer reduces by any interim payments (so, effectively, payments made after the offer has been made form part of the sum offered).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
What a long wait our report was done within a week of first contact with firm. Then 30 days which is compulsory for creditors and meeting was held 38 days from first discussion about offer we had a acceptance call. Can't understand why so long, who are you with?
Good luck for 25th June. I made a full and final offer mid March and still waiting...... pay over £700 per months so at the moment they have receive £2100 more than we expected with offer - really seems unfair. Still no sign of the papers being sent for signature and definitely no sign of a date. Wish I had known this when I made offer!
Our payments were suspended until after f&f meeting, you could ask your I p to do this, worse they can say is no and you have lost nothing and if they say yes you have gained.
