www.iva.co.uk

I am considering offering a f+f to my via creditors I could offer the total amount left outstanding on the iva how likely are they to accept it. How long does the process take Any advice would be very welcome

Hi, if you can offer as near to the expected dividend it may well be favourable. I think you approach your IP and they will give you guidance on the procedure. All the best with your offer.

I can offer the full amount outstandin. On the iva

Hi, an offer of the remaining months x current monthly payment will be looked on favourably --- a lump sum now is far better than quarterly dividend payments.

I assume this will be funded by a third party -- make sure your IP is aware of this and that the offer of funds are for a F&F only. The funds will be retained by the donor if the offer is turned down and will not be available to the creditors.

Hi emptyspaces. Sounds like a very good offer. Would this be from 3rd party funds? From proposal to acceptance, mine took 14 weeks, and then another 36 weeks for full completion - though the latter was delayed by the VAT/PPI issues. Lots of luck with yours. x

Thanks for the advice all I will be sending letter from 3rd party along with my annual review paper work to my iP at the weekend. I guess I keep paying the iva monthly payments untill the out come of the full and final offer is decided upon

my ip are still asking for a anual review budget even tho i am submiting a ff for the full amount with in a year of first iva payment. how can they legaly ask for this also 3 mths is a unacceptable time to wait when finances can be in place in 10 working days

Hi Emptyspaces.
We got an email on Thursday evening from our case officer to say our F&F meeting is on 12 April.
We started our IVA almost exactly a year ago but started the F&F process late 2012. While preparing the submission we too had to supply up to date I&E figures in January even though the review wasn`t due til March.
So I guess it`s standard. Perhaps it has a bearing on whether the Creditors decide on whether to take the offer e.g. if your circumstances have deteriorated then they may think it`s a better bet to accept. And vice-versa if the offer is low but your income has risen.
I`m only speculating though !
Also the IP has to factor in giving 28 days notice of the meeting to creditors, after all the other steps have been completed.