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Posted: Thu Sep 11, 2014 8:20 am
by Bob and Gill
Interested to know on average how long it takes IVA companies to propose variations for F&F offers?
What do folks feel is a reasonable time to wait?
Posted: Thu Sep 11, 2014 9:32 am
by Adam Davies
Hi
It can often take up to three months but hopefully your IP will be quicker
Regards
Posted: Thu Sep 11, 2014 10:04 am
by Michael Peoples
It depends on the urgency as often some need called to avoid the IVAs from failing. A few weeks is reasonable and then creditors normally want 28 days notice.
Posted: Thu Sep 11, 2014 11:33 am
by Bob and Gill
I'm nearly at 3 months, then there will be another 28 days, really frustrating. Feel like a prisoner awaiting parole!!
Posted: Thu Sep 11, 2014 11:43 am
by Bob and Gill
Is a forthcoming anniversary date likely to have an influence? i.e. Would most IP's prefer to wait until after the anniversary to make any changes?
Posted: Thu Sep 11, 2014 11:51 am
by Michael Peoples
That is a possibility because the IP must do the annual report. By combining a variation with the annual report you save time and money so that is likely what will happen.