I gave them all the documents they needed the day after making the offer and they still took this long. Then they said it was in 'checking' and should be out in 3days but a week and a half later when I called them it had been final checked and just sat there for the duration collecting dust. Annoyed isn't the word. Really hope they treat your case better
Unfortunately we have a "perfect storm" situation: They are undergoing an internal reshuffle, looking to lose a high number of staff, may change business direction ( or disappear) .. on top of the usual problems caused by having to few IP's for too many clients.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I wouldn't have thought so. They just asked for valuation and mortgage redemption figures from us. That's what they base it on. I'm sure they'd use same method for everyone or it wouldn't be fair.
bex820 wrote:I wouldn't have thought so. They just asked for valuation and mortgage redemption figures from us. That's what they base it on. I'm sure they'd use same method for everyone or it wouldn't be fair.
Most use the method in the Protocol used when drafting the proposal and this is the same across different firms. Some firms ( GT / Aperture for instance) use a different method, but have to use whatever was in the proposal if they have bought in cases from other firms -- so, if they have proposals drafted by different companies on their books they will use different methods for those different clients.
As far as I am aware Payplan use the commonly accepted "usual", which is fairer to the client (us).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
noshiela wrote:So stressful.. I've been in this almost 4 years can't wait for it to end..
If thy do accept F&F, does that mean any extra money earnt or lottery winning (I wish!) is no longer due in??
When the F&F is accepted, you pay the money over and have to wait a coupls of months for the completion formalities -- once the completion certificate is issued windfalls are yours. Once you have made the F&F payment extra earnings are yours right away. (earned income and unearned income are treated differently from each other).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
My variation proposal shows that bankruptcy would cost creditors 15k but does this sound realistic?
It means estimated dividend to creditors would be 0% if they opted for this versus 3% if they went with our offer bt I can't help feeling like they might look at that figure and know differently.
What do you think?
You can (and should) get Payplan to remove the BR clause and they will do.
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
It's not a bankruptcy clause. It's a comparison between the options. It shows it will cost them 15k to bankrupt is but if they accept our offer they will have 3% bit do you think they will believe it will cost them that much to bankrupt us?
As far as I am aware it is the same thing - they tried it with me and I got them to remove it. It would cost them a lot of money to make you bankrupt!
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
