NRAM and F&F offers

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bridgey

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Post by bridgey » Tue Apr 24, 2018 5:42 pm
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Ok so the F&F meeting is set for 17 May at 10:30.

Regarding the sale, we’ve been asked to pay £400 for a sellers pack (leashold info) which we are happy to pay, but unsure about doing this before the offer is accepted. Any thoughts?
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Foggy

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Post by Foggy » Tue Apr 24, 2018 5:57 pm
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bridgey wrote:
Ok so the F&F meeting is set for 17 May at 10:30.

Regarding the sale, we’ve been asked to pay £400 for a sellers pack (leashold info) which we are happy to pay, but unsure about doing this before the offer is accepted. Any thoughts?
Personally I would try to stall in case the offer is refused by creditors.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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bridgey

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Post by bridgey » Tue Apr 24, 2018 6:04 pm
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That’s my thinking - but don’t want to jeopardise the sale falling through.

Rock/hard place
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Lisa Thomas

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Post by Lisa Thomas » Wed Apr 25, 2018 9:04 am
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The difficulty is you have decided to put the property on the market before getting approval from the creditors.

Stalling for 3 weeks is a big risk plus there is always the possibility your creditor meeting might be adjourned.
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
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bridgey

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Post by bridgey » Wed Apr 25, 2018 10:50 am
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Lisa Thomas wrote:
The difficulty is you have decided to put the property on the market before getting approval from the creditors.

Stalling for 3 weeks is a big risk plus there is always the possibility your creditor meeting might be adjourned.
*at the advice of the IP
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bridgey

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Post by bridgey » Thu May 10, 2018 10:49 am
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So a week to go until the voting deadline and as yet no votes in

Watch are the main ones to vote, and normally vote ~2 weeks ahead of time, so maybe they’re not going to vote.
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kallis3

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Post by kallis3 » Thu May 10, 2018 11:06 am
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Fingers crossed it all goes ok.
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.
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Foggy

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Post by Foggy » Thu May 10, 2018 11:46 am
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Everything crossed !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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bridgey

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Post by bridgey » Mon May 14, 2018 5:08 pm
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So had a call from the IP this morning and the creditors have approved my F&F offer (or at least the major creditor has, so can’t be voted down) - just waiting on the creditors for my Wifes to be approved and we are home and hosed.

So so so pleased, one final hurdle then can concentrate on completing on the sale :)
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Foggy

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Post by Foggy » Mon May 14, 2018 5:10 pm
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Good news so far !
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Tue May 15, 2018 11:19 am
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Fingers still crossed!!
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.
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bridgey

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Post by bridgey » Tue May 15, 2018 5:12 pm
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And..... it’s been fully approved by all creditors!

We’ve done it, now I can get chasing the solicitors!!

Thanks to everyone on here for support and guidance in this process.
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Foggy

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Post by Foggy » Tue May 15, 2018 5:14 pm
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Congratulations !!! I love it when a plan comes together ........
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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kallis3

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Post by kallis3 » Tue May 15, 2018 5:51 pm
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Well done! Glad it worked out 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
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bridgey

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Post by bridgey » Mon Jun 04, 2018 8:50 pm
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Hi all.

So we are set to exchange contracts on the sale on Friday with Completion on 22 June.

Payment to the Creditors on 22nd and 60th and final payment on 1 July.

I can’t wait until Friday and the call saying we’ve exchanged. It’s been a long road from when we started the IVA but it’s been a rewarding one, in a strange way.
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