www.iva.co.uk

Hi Everybody, hope all is going ok?

We have made a Full and Final offer and have been informed that the meeting will be held in the middle of JULY (Next month).

We have been told that if everything is agreed on the day we will need to transfer the funds over straight away.

We would like to know that while waiting for that meeting do we:

1: Still subject to paying any additional income over from wages?

2: While waiting for all the paper work to be finished do we still have to pay our monthly payments?

Or once if its agreed at the meeting to except the full and final does that then make everything stop?

I understand that if I win the Lotto before certificate is issued I would still have to part with some winnings!!! but its the every day stuff we have been doing for the last six years.

Many Thanks

Baldy.

Until the meeting you are still bound by the IVA so would have to pay across any extra earnings.

Once you have made that payment you do not have to make any more payments as the IVA is finished and your money is your own. The IVA will still be on the record and hopefully your completion letter will come through quickly after the meeting.

Surely you are still bound till you got completion certificate and that includes windfalls etc

Kallis.

Thank you so much for your rapid response!!

That meeting just cannot come quick enough. We did not even think of doing a full and final until we had a chat with our supervisor who pretty much said you would be surprised what they might except!!!

So we put our offer forward and are now just waiting to see whats going to happen.

I like to think its a fair offer.

So once if everything goes well and funds are transferred over that's it!! Fingers crossed I guess.

Once again, thanks for all your help Kallis. Will let you know how it goes.

Baldy

You are still bound for windfalls and PPI but not your monthly income..

Yeah...... until we get that bit of paper we ARE still bound by the IVA.

Its just always nice to run any thought by the experts just in case we over look something!!!!!

If you don't ask you never know!!!

Baldy

Kallis3 I wasn't aware re monthly income, which is good to know!

Once you have made that full and final payment then the IVA is effectively concluded although PPI and windfalls are still in place until that letter comes through.

Your monthly income is yours.