F & F offer- what is the procedure?

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rob090881

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Post by rob090881 » Wed Jul 15, 2015 11:34 pm
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If I submit a F & F offer, what is expected of me?
Do I need to provide mortgage statements or secured loan statements, wage slips or anything else? Or do they just use what I gave them for the annual review a few months back. I want to be prepared, so it takes as little time as possible.
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Foggy

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Post by Foggy » Thu Jul 16, 2015 7:48 am
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They will want to establish the equity position as this affects the amounts they are looking at getting if the IVA continues, so, as well as the mortgage / secured loan redemption figures they will want a current valuation. Some IPs do this from the desk using the likes of Zoopla ( highly inaccurate).
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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rob090881

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Post by rob090881 » Thu Jul 16, 2015 8:16 am
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Ok, thanks :)
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plasticdaft

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Post by plasticdaft » Thu Jul 16, 2015 8:38 am
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It tends not to be a particularly fast process,just a word of warning.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
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Michael Peoples

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Post by Michael Peoples » Thu Jul 16, 2015 9:34 am
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The variation timescale should not be too long. Your IP must call the meeting within 21 days of your request so gather the required information and send it in. If there is any delay remind the IP of their obligations under the terms and conditions [R3 or Protocol are pretty much the same].
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
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rob090881

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Post by rob090881 » Thu Jul 16, 2015 11:08 pm
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Thanks, keep up the good work chaps. You are priceless.... luckily, because I have no money anyway!
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