www.iva.co.uk

Hi a newbie to this forum and very happy i found it. Im having problems with Freeman jones and just want to end end my IVA , im 40 months into it and getting so stressed after complaint after complait is so called resolved NOT!
Im wanting to know about changing to a lump sum IVA, im separated from my wife who i have a mortgage with, the house will be used to try and release equtity from it in year 5-6 but there will be very little if any. I have also not lived there for 3 years having separeted from my wife. If i pay out my final 18 months it will be £4500 and a further £3000 for the final 12 months if i cant release equity from the house, what would be a valid offer? as im desperate to be free of FJ and my family are not wealthy but are willing to club together to help. A letter from them states it takes 4 months then a further 30 days to arrange the meating with my creditors. Please help im stressed to the edge over this , thanks jonny

An offer in the region of £7000 would be given serious thought -- but you have to be limited by what the family can afford and offer whatever that is. Three months seems a long time to draft a simple variation!

Dear stressed out jonny,

I am concerned to read your comments and am keen to look into this for you. Please could you contact me directly with your reference number by email to spencer.last@freemanjones.com.

I look forward to hearing from you soon.

Regards

Hi Jonny - 4 months to put together a variation report to creditors sounds completely wrong!! Should only take a couple of weeks plus 2 weeks notice to creditors. I would offer c£5k considering the time and savings costs. Nb. there may be a variation fee but that should come out of the creditors pot.

Hi thanks for the speedy replies, I will email you Spencer.last but the reason I want out of this iva as quickly as possible is I'm fed up of emailing fj and getting nowhere. I have just had replies to 4 of my complaints dated from June 2014 ( 3 of which were from the first 12 months but I was prepared to let them slide at the time but not now)the outcome is fj are sorry and will improve going forward!!! I had to pack in being self employed after 12 years so I could get a full time job to make fj's job easier and my stress levels lowe.
Foggy thanks for advise but to get that sort of cash gift is pretty unlikely and only saving 750 quid I'd let it run its coarse tbh.thanks Lisa that's about the top limit so may investigate it further. My main concern is if my ex faults on the mortgage ( I've heard she is struggling) it may come to repossession and my iva failing. As I'm with a new partner the iva will only allow 1 set of household payments which I totally understand, but as the house can't be remortgaged for a cheaper loan rate it's a catch 22. I never thought it would be an easy process but I'm upholding everything on my side.

We were with FJ and it took 2 weeks to put together report and the 30days required for creditors meeting, completion certificate received 2 weeks from final payment clearing, this was all down to Sarah Jolly and Samantha who were brilliant from start of process to finish. Good luck

Hi Jonny FYI - if the property is sold this does not necessarily mean your IVA will fail. Hopefully Spencer will unlock the position for you so you can move forward.

Thanks all, it would seem spencer.last has an invalid email address!!!

trying contacting Sarah Jolly

Hi Jonny,

Sorry I have just tested the email address, it is correct however because of the full stop at the end of the sentence when you click on the link directly it will leave it in the email address I think this is what is making it invalid, please could you resend the email ensuring to remove the . at the end of my email address.

Regards

Ill send it straight away thank you

Hi Jonny,

Thank you for sending through your details.

I am sorry that you have found the IVA process stressful. As you say, you have raised a number of complaints and we have responded to those recently – upholding the majority of your concerns. I am sorry that our service has fallen short of the level that you and we would expect.

I know that you spoke to your RM yesterday. We have now completed a full review of your IVA for you and we will be in touch (tonight if we can get you) to run through that with you. If, at the end of that process, you still wish to proceed down the Full & Final route (and if it still seems to be a viable option) then we will draft your proposal within 30 days of getting the information we need from you.

I hope this helps,

Good luck stressed out.

Thanks lifenoteasy, and thanks Spencer.last. Unfortunately I missed a call whilst at work, I will call tomorrow to find the outcome of the review. The f&f is still in my mind if it's possible to do.

Well ive spoken to my RM and he assured me i would get my Annual review ( that i never recieved from Oct 2014) by 29-30 April, its not arrived yet!
Reading your reply spencer.last it seems to contradict the email FJ sent me?? Here is a copy.


As discussed on the phone today, should you wish to offer your creditors a lump sum to conclude your arrangement early we would require the following information before holding a meeting with your creditors:
- A signed and dated offer letter from the person gifting the funds, confirming the total amount they wish to offer your creditors and confirmation that this money is only available should your creditors agree to settle your IVA.

- A signed and dated letter confirming you wish to proceed with the lump sum offer.

- An amended Income and expenditure form and evidence to support any changes (if applicable).

- Proof of income from November 2014 to present.

- An up to date mortgage statement with a redemption figure.


The timescale for the variation draft to be issued to you is approximately 4 months. A copy of the draft report would, first of all, be sent to you, and once we have received your signed copy of this report we can hold a meeting with creditors. We are obligated to give your creditors 30 days’ notice of the meeting date.