www.iva.co.uk

Full and Final settlement. Hi all I have now received my proposal forms regarding my full and final settlement. I have decided to sign these even though it says the .... standard wording.. if not accepted the meeting will fail and my ip will partition for my bankruptcy. Things cant get much worse. After reading all the other forums about the probs with equity I have to take this chance. I just hope that it goes through. If not then I will have to deal with matters. I feel worried upset but hey these thinks happen for a reason xx

Hi Rich,

If the F&F is rejected then can you carry on with your payments? Seems a bit harsh to say they will petition for bankruptcy when in actual fact you could just let it fail and do a DMP instead if necessary.

Check your original paperwork to see if your IP will be keeping any funds back in case of bankruptcy - mine specifically states that they won't.

Please don't worry, I'm sure it will be ok.

Rich - yeah I know what you mean. However, I don't think any IP would call a variation meeting if they dodn't have confidence in the offer.

You have to go with your gut feeling on this one. I was worried ours would be rejected but was suprised when getting the report that everyone voted for our f&f offer.

Just waiting for the money now to pay it over and conclude the IVA.

Good luck - let us know when your meeting is.

Hi Rich
Its best to have a conversation with your IVA provider to fully understand what happens should the F&F not be accepted. This way, you will know for sure what happens from the horse’s mouth.

Thanks

Seems very strange wording and you can still withdraw the offer if you wish. If the F&F is rejected you can continue on with payments, ask for a payment break, increase the offer or anything that takes your fancy. You can withdraw the variation if you do not like what is said by creditors and it seems bizarre to threaten bankruptcy for a failed F&F offer.

Who is the IP?

There's been a lot of different threads with this wording Mike so I think 1 company have started using this as standard.

Thanks guys/girls. You get to the point when you dont really care anymore. I have let everyone down my wife family kids and Mum, mother in law !! Went to see Doc yesterday and he knows of my situation Gave me a prescription for some anti depressants. I would love to try them, but dont have the money so I guess I will just continue to be down in the dumps. Ip Has received proposal forms siad that meeting will be 1 to 2 weeks. Should I be excitited ? Im not just feel very low xx

I hope everything turns out ok for you Rich x

good luck rich x

You haven't let anyone down Rich!!!

Please keep positive and hopefully you can find the pennies to fund the anti-depressants, they will help you if only for the short term.

Keep going Rich, we're all behind you here sending plenty of positive vibes and big hugs!!

Don't forget that we're here pretty much 24/7 so there is normally somebody around, even if it's only a shoulder to lean on.

Thanks Footimad. No dis respect to this forum. It has always been a help to me having something to look at and get some sound advice from. But at the end of the day we hide behind our screen names when I would like to talk to real people. You read other IP posts and think I wish I was with them but its to late to change. My case officer has now changed yet again since the full and final offer. I never get the opportuinty to build up some repore with my IP . So sorry about spelling just cant think right now. I note that votes go directly to my IP as on my proposals it says Votes @ xxxxxxxx for there replies. I wonder if they will know the outcome before the meeting date ?

Jan your a real credit to this forum xx

Most creditors do not vote until the day before the meeting or even the day itself. Hopefully yours will be accepted but I am still appalled that this type of wording is being used thereby putting clients under even more stress and strain.

Try and forget about the anti depressants because the last thing you want is your variation approved but you are addicted to prescription drugs!

4kidsnocash
thanks so much for your kind wishes xx

Rich - see if you can scrape the money together somehow - antidepressants got me out of a dark place years ago and due to my condition I am on them now for life. It's worth taking them.

Once the meeting takes place you can start to move forwards. YOu haven't let anyone down. In fact you should be congratulated for taking the steps you have to tackling the problem. I shudder to think of how many people in this country are paying bills and mortgages on credit cards. You should be proud of the fact you have taken the bull by the horns and dealt with it.

Stay strong - come and have a moan or a rant on the forum. It's good to offload on here - don't worry about it - we are here to help each other.

I don't think your IP would be able to tell you prior to the meeting how the creditors have voted. Ours all voted yes and it took our return down by 2p in the £ so I hope that encourages you to stay as positive as you can.

Honestly - in a few months you'll feel so much better.