3-6 months for F&F meeting?

Get expert opinion. This is the place for new questions to be posted.
7 posts Page 1 of 1

herewegoagain

Posts: 6
Joined: Mon Feb 05, 2018 8:38 pm

Post by herewegoagain » Tue Sep 11, 2018 8:10 pm
Hi Everyone,

Thanks for all the help and advice to date, I have submitted a full and final settlement offer. I've been told by my IP (Payplan) that this process can take between 3-6 months and I'm shocked!

I've sent them a letter outlying my offer and the reasons why, confirmation from my father around the payment, updated I&E and when asking how long I was told between 3 -6 months surely that can't be right?

Any advice or guidance about time scales gratefully received.

Thanks

Gareth

Bex12

User avatar
Posts: 130
Joined: Wed Mar 12, 2014 5:21 pm
Location: United Kingdom

Post by Bex12 » Tue Sep 11, 2018 9:04 pm
herewegoagain wrote:
Hi Everyone,

Thanks for all the help and advice to date, I have submitted a full and final settlement offer. I've been told by my IP (Payplan) that this process can take between 3-6 months and I'm shocked!

I've sent them a letter outlying my offer and the reasons why, confirmation from my father around the payment, updated I&E and when asking how long I was told between 3 -6 months surely that can't be right?

Any advice or guidance about time scales gratefully received.

Thanks

Gareth
Hi Gareth I submitted a F&F and had a phone call from creditfix who I’m with 4 days later informing me it was being processed and my creditors meeting would be in 28 days. 3-6 months sounds extreme to me but I’m no expert hopefully the lovely people on here will be along soon to offer you advice. Good luck

kallis3

User avatar
Forum Expert
Posts: 74815
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Tue Sep 11, 2018 9:30 pm
It should be sorted before then - keep pestering them!!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

herewegoagain

Posts: 6
Joined: Mon Feb 05, 2018 8:38 pm

Post by herewegoagain » Wed Sep 12, 2018 5:43 am
Hi everyone,

Thanks for your replies I just wanted to double check I wasn’t being unreasonable! What would be great is if anyone has anything I can use, law wise or best practice?

Foggy

User avatar
Forum Expert
Posts: 29220
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Wed Sep 12, 2018 6:19 am
herewegoagain wrote:
Hi everyone,

Thanks for your replies I just wanted to double check I wasn’t being unreasonable! What would be great is if anyone has anything I can use, law wise or best practice?
The standard timescale is around 2 months. But Payplan march on oblivious to best practice and do things their own way.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

Kazza

User avatar
Posts: 138
Joined: Mon May 23, 2016 2:07 pm
Location: United Kingdom

Post by Kazza » Wed Sep 12, 2018 7:00 am
Hi, Although this was back in 2016, we were with Payplan and started the F&F process beginning of April when my husband got made redundant. I was very well prepared for this (well hoping redundancy wouldn't happen but it'd been on the cards for months!) so all letters/documents were submitted v quickly etc etc and our creditors meeting was finally mid August 2016! so basically, yes it may take that long. Yes it's shocking but equally, we found Payplan very helpful and put forward a good case. Just a horrible waiting game but a positive outcome for us. Good Luck :D
IVA started Sept 2012, Full & Final accepted Aug 16th 2016 & CC issued 10th Jan 2017

Lisa Thomas

User avatar
Industry Expert
Posts: 7421
Joined: Wed Dec 03, 2014 10:26 am

Post by Lisa Thomas » Wed Sep 12, 2018 8:26 am
They usuaully have 21 to put the offer to creditors (check the variation clause in your proposals to confirm) and then they have to give creditors 14 days notice of the meeting to vote on the variation.

So, unless it the mtg is adjourned you should have the answer within about 5-6 weeks from sending them all the info they need...
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
7 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”