www.iva.co.uk

Hi, my full and final settlement was accepted last Wednesday and I have not yet received any paperwork.

Before my bf sends the cheque for the money off is there anything else that is needed from me? Should I wait until I receive the paperwork before I send anything. I am presuming i need to sign something?

Thanks.

Nothing for you to sign, Poppy, but you ought to have received a copy of the Chairman's Report confirming that the variation was accepted.

Thanks Melanie.

I will chase the paperwork.

Hi Poppy

I have offered a F&F settlement but heard nothing back yet regarding a meeting date etc. How long did you have to wait, after sending payslips and evidence of the F&F money etc, before you heard that the offer was accepted?

Thanks!

Hi Marley

My meeting was set up within about 4 hours of them receiving the paperwork! I had to wait just over 3 weeks for the meeting and I was notified of the decision within 30 mins of the meeting.

When did you send your paperwork off and who are you with?

I will keep my fingers crossed for you!

p.s. I was already in an IVA so that may be why it was so quick. Are you setting up a full and final settlement IVA or are you already in one?

mine took almost 3 months from sending all paperwork, it depends who you're with!
I'd send the cheque of to them as soon possible. The quicker they get it the quicker they can close things down. I sent mine special delivery the next day and had the chairman's report within a few days. I've only just had confirmation that they have received the cheque though.

Spot on Pixie - some IP's work slower than others.

Thanks guys

I'm with Debt Free Direct now (previously Clear Start)

I sent my F&F offer to them in October, one month before my first review was due. Within 7 days, I received a request to send proof of the money (a letter from my family who are offering me the loan) and 3 months of payslips - I sent this stuff to them and have not heard anything since...

I presume they are a little busy with new applications etc but I would have thought a decent offer of F&F would be something they'd want to complete ASAP, but I'm still waiting...

I think I would chase them up marleymoo. I would have thought you would have heard something by now.

I rang every week and all anyone could tell me was it was with such and such a dept. My IP never answered emails either. I didn't even know they were going to put it to creditors until I got a copy of the variation report to sign. All you can do is keep chasing.
They still haven't cashed the cheque though....

Pixie, I can't believe they haven't cashed the cheque yet! You would think that was the first thing they would do.

My cheque was cashed immediately although I am still waiting for the completion certificate. I also now have a copy of the chairmans report, it looks like all my debts are with Max something (I forget what it's called!) and so they said yes.

Marley, I would keep chasing. You have definitely waited long enough.

I also cannot believe that Pixie's cheque has not been cashed - this appears to be very poor administration from her IP firm. If your third party were to (hypothetically) cancel the cheque, your IP would be sitting with a very eggy face and some explaining to do to creditors.

My mum's not very impressed, every time she goes into the bank they ask her if she wants to transfer it to savings!
I haven't managed to convince her internet banking is ok yet otherwise it would have been a bank transfer instead!
I don't get why they wouldn't bank it right away, doesn't make sense!

The devil in me says "tell her to cancel it to teach them a lesson", but this is not a professional answer!!

I suggest that you give your IP a call and demand an explanation as to why they have not cashed the money. Your creditors are losing out on interest which could be earned on the money, and your IP is actually non-compliance with his regulatory body's bye laws which require cheques to be banked within 7 days.