Can I end my IVA early with a lump sum?

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Foggy
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by Foggy » Tue May 15, 2018 8:34 am
Lisa Thomas wrote:
There are some standard letter templates on this site you could use as a starting point - see 5 & 6.

https://www.iva.co.uk/download-letter-templates-summary

I would add that any monthly contributions made whilst the variation is decided upon by creditors, will be deducted form the lump sum etc.

Best of luck.


For the sake of clarity, Lisa is suggesting that you add the stipulation that interim payments are to be deducted from the lump sum in your offer. She is not making the comment that they will be (as it could be read) .
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Leed015
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by Leed015 » Tue May 15, 2018 9:19 am
Hi Lisa/Foggy,

Thanks for all your advice, I really appreciate it.

Lisa,

Would it be possible to give you a call, so I can run a couple of things past you? It should only take 5 mins. I just want to get my head straight regarding this offer before I proceed and my IP didn't really help that much to be honest.

Thanks,

Lee
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Lisa Thomas
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by Lisa Thomas » Tue May 15, 2018 9:39 am
Of course.

I'm busy this morning but should be free after 2.30pm 01752 786800.
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Leed015
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by Leed015 » Tue Jun 12, 2018 7:12 am
Hi,

Just wondering if you know the process after a full and final offer has been accepted?

I have submitted all the paperwork and the variation meeting has been set for the 10th July. This is great news, but I have just been offered a new role within my company which comes with a higher salary. If I accept the role, my new salary will take affect in my July pay, which I get paid at the end of every month. I'm just worried that this may affect the offer being finalised. I'm thinking I may have to decline the job offer, as getting this IVA paid off is really important to me.

Your advice would be greatly appreciated.

Lee
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Foggy
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by Foggy » Tue Jun 12, 2018 8:34 am
Leed015 wrote:
Hi,

Just wondering if you know the process after a full and final offer has been accepted?

I have submitted all the paperwork and the variation meeting has been set for the 10th July. This is great news, but I have just been offered a new role within my company which comes with a higher salary. If I accept the role, my new salary will take affect in my July pay, which I get paid at the end of every month. I'm just worried that this may affect the offer being finalised. I'm thinking I may have to decline the job offer, as getting this IVA paid off is really important to me.

Your advice would be greatly appreciated.

Lee


After the offer has been accepted the case will go for completion, to have any loose ends tied up, which could take a few months, but an increase in salary after the offer has been accepted will / should make no difference as permamnent pay rises are not, assuming as usual that you have the "standard" clauses, taken into account until the annual review following the rise.
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Leed015
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by Leed015 » Thu Jul 12, 2018 3:53 pm
Hi,

Just to let you know my offer was accepted on Tuesday 10th July. Chairman's report signed, money transferred and my case is on it's way for completion. I have been told 4-6 weeks before I get my completion cert.

Thank you both for all your responses and advice, it was really helpful.

Lee
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Foggy
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by Foggy » Thu Jul 12, 2018 4:28 pm
Leed015 wrote:
Hi,

Just to let you know my offer was accepted on Tuesday 10th July. Chairman's report signed, money transferred and my case is on it's way for completion. I have been told 4-6 weeks before I get my completion cert.

Thank you both for all your responses and advice, it was really helpful.

Lee


Congratulations, Lee, and well done.
Onward and Upward :-)
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kallis3
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by kallis3 » Thu Jul 12, 2018 6:21 pm
Excellent news - well done!
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Lisa Thomas
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by Lisa Thomas » Mon Jul 30, 2018 9:02 am
Leed015 wrote:
Hi,

Just to let you know my offer was accepted on Tuesday 10th July. Chairman's report signed, money transferred and my case is on it's way for completion. I have been told 4-6 weeks before I get my completion cert.

Thank you both for all your responses and advice, it was really helpful.

Lee


Good news, well done.
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