What is the process for F&F settlement

[redhead]

Please could you advise me what is the process is regarding F&F settlement and how long it would take....
I have been advise by my IP to offer an amount which i have sent a letter stating that this amount is acceptable my IP has advised me that they will send letters out to my creditors - that was a week ago and i didnt ask what the process was so could you advise me please and how long will it will take from start to finish.

I can just see in the far distance the light at the end of the tunnel hurray!!!!

[MelanieGiles]

Hi Redhead

If your IP is like me, we are very busy people at the moment and work like this has to be scheduled into timeslots - priority always being given to new clients who are in desperate financial difficulty. I would have thought that they ought to be able to put this forward for you over the next two months, but ask them specifically.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[iva_squirrel]

Good evening,

I agree with Melanie. You should contact your IP and check the progress on your case.

In your situation, it is possible to seek to settle the IVA early, however only if the new funds contributed will pay off a significant amount.

If there would still be a significant amount owed to the creditors, they will look to take some contribution from the lump sum and also continue to take monthly payments.

Good luck,



Julia Simavi

Shortlisted for Best UK Debt consultant by Credit Show 2007

View my profile:
http://www.supersonicsquirrel.net/julia ... rofile.asp

Visit my website:
http://www.supersonicsquirrel.net

[redhead]

Thank you both for the advice

I can just see in the far distance the light at the end of the tunnel hurray!!!!