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
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
User avatar
Bex12
Posts: 102
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
User avatar
kallis3
Forum Expert
Posts: 73480
Contact
by kallis3 » Tue Sep 11, 2018 9:30 pm
It should be sorted before then - keep pestering them!!
herewegoagain
Posts: 6
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?
User avatar
Foggy
Forum Expert
Posts: 26893
Contact
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.
User avatar
Kazza
Posts: 134
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
User avatar
Lisa Thomas
Industry Expert
Posts: 6869
Contact
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...
7 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: magicsam and 19 guests