Do I really need to draw down my pension before offering F&F ? What happens if it is refused ?

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andyflincs

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Post by andyflincs » Thu Apr 07, 2016 8:42 am
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by linrog

we have just done a full and final and paid over the monies 5 weeks ago from pension draw down first the variation meeting was called then i got in writing pension could be drawn down for the conclusion full and final of our iva hope this helps im expecting cc next week good luck
Thanks you so much for that, glad it worked for you
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Apr 07, 2016 9:01 am
Let us know how you get on Andy.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

andyflincs

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Post by andyflincs » Thu Apr 07, 2016 11:25 am
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lisa Thomas

Let us know how you get on Andy.
Will do Lisa, they have now agreed that a statement plan of
my pension is ok. So i do not have to draw down before the offer is put forward. The variation meeting is being requested.
 
 

andyflincs

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Post by andyflincs » Thu Apr 07, 2016 11:27 am
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lisa Thomas

Do not draw it down. As I said before if a variation is accepted and you do not stick to the terms you will breach and fail your IVA, which is not in your interest.

It's up to creditors to decide whether to accept not you.

If they reject for any reason you could LOSE your pension money into the IVA.
Thanks and I think you were right, they have now said a pension statement will be fine for them to call for a variation meeting
 
 

kallis3

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Post by kallis3 » Thu Apr 07, 2016 12:01 pm
That is excellent news.
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
 
 

Lisa Thomas

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Post by Lisa Thomas » Thu Apr 07, 2016 12:17 pm
Phew. Shame you had to come to the forum to find that out. I don't like to think what would have happened if you drew it down and creditors rejected your offer.
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

linrog

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Post by linrog » Thu Apr 07, 2016 4:50 pm
after my meeting they gave me time to get pension drawn down was allowed 3 months
full final paid over 29/2/16 cc arrived 12/4/16 its all over
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