After settlement agreed

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Sameersaab

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Post by Sameersaab » Sat Feb 13, 2021 2:03 pm
IVA SETTLEMENT APPROVED
Hiya,I have a question here.I am with IVA from last 5 months.Then I called my IVA company to full and final settlement.They seen my circumstance has changed .And I am not giving the amount I agree.So I offered them rest of the amount from my friend.And they approved yesterday meeting.And I hot the call from my IVA company creditor accepted my perposal. So I have a few question.Next week I will transfer money into their account.After that If I am ok to do overtime or Shall I need to wait till completion of certificate.And second after this full and final payment Do they have a authority to check my statemwnts or contact me in the future.
Thanks for your help.

Foggy

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Post by Foggy » Sat Feb 13, 2021 2:45 pm
Although technically still in the IVA the usual practice is that the IP will have no further interest in your income and outgoings after the agreed payment has been made. Exceptions to this would be if you win the lottery or get an inheritance before the completion certificate is issued.

In the future your IP may contact you regarding PPI refunds (these usually still belong to the IVA, even after it is completed). They might ask for statements during the completion process, but this doesn't often happen.

Other than that, you are free !!!
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

rosepetal1

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Joined: Mon Feb 15, 2021 7:07 pm

Post by rosepetal1 » Mon Feb 15, 2021 7:11 pm
Sat Feb 13, 2021 2:03 pmSameersaab wrote:
IVA SETTLEMENT APPROVED
Hiya,I have a question here.I am with IVA from last 5 months.Then I called in my IVA company to full and final settlement.They seen my circumstance has changed .And I am not giving the amount I agree.So I offered them rest of the amount from my friend.And they approved yesterday meeting.And I hot the call from my IVA company creditor accepted my perposal. So I have a few question.Next week I will transfer money into their account.After that If I am ok to do overtime or Shall I need to wait till completion of certificate.And second after this full and final payment Do they have a authority to check my statemwnts or contact me in the future.
Thanks for your help.
Hi can you please according to yours experience explain how much was yours total debt?
You own any property?
Yours monthly payment?
How many instalment you paid?
What was yours final settlement figure?
I am in the same issue so it would b great help
Thanks

Foggy

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Post by Foggy » Mon Feb 15, 2021 8:46 pm
Rosepetal, if you pop the answers to your own questions onto the forum we can tell you what we think of your offer, or, maybe suggest an offer for a full and final.
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

Sameersaab

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Joined: Fri Dec 04, 2020 4:47 pm

Post by Sameersaab » Mon Feb 15, 2021 9:26 pm
Hiya my total debit was 36000 pound.I have agree to pay 70 pound a month.I do not have any property on my name.So after 5 month I offered 4000.And then they agree on it.

luluj

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Post by luluj » Tue Feb 16, 2021 6:10 am
Remember though that a full and final offer does not give you credit free records.
Your record is impacted for the six years from the date of the acceptance of your iva.
What it does do is allow you to live, once the certificate of completion is received, is to live life as your own, with no hold on overtime or inheritance/bonus payments etc.
You will continue to find new lines of credit difficult to obtain whilst the iva remains on record.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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