Chairman's report following F&F

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KitLost
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by KitLost » Tue Jan 22, 2019 1:43 pm
Hi, first of all I should say that writing this, my first post, comes with a little trepidation on my part. I've been using this forum as a font of knowledge since before my IVA began back in October 2015 - I have always found an answer to my questions here, even though I never wrote anything! I'm not really one for putting myself out there but I owe a long overdue thank you to all the contributors of this forum; your words of wisdom have kept me going for the last 3-4 years!

I decided to end my IVA early with a Sprout loan, this was for various reasons and I think it may work out in my favour. I heard back from my IP that the variation meeting was successful and creditors have accepted my offer of a lump sum as full and final settlement(!) Sprout Loans now need a copy of the chairman's report from the meeting before they will send the money to the IP - McCambridge Duffy. This was over a week ago, I have asked the IP several times when the report is due and all they've said is that it will be "a few days".

Obviously I'm just impatient to get the process moving, but I was wondering how long was reasonable to wait before I go back and prod them?
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MerlinL14
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by MerlinL14 » Tue Jan 22, 2019 2:15 pm
I think maybe wait those couple of days. McC D are at least still in communication with you and are not dismissing your questions. It isn't unreasonable to want it over right now, but there are processes that your IP and the IVA team have to complete first. A was said in a famous film "patience grasshopper". :lol:
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Foggy
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by Foggy » Tue Jan 22, 2019 2:33 pm
A week isn't an undue delay and, as long as Sprout aren't getting anxious nor should you. You could shorten the wait by asking McCD if they would email a copy before posting the hard copy.
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KitLost
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by KitLost » Tue Jan 22, 2019 3:19 pm
Thanks for the advice Merlin and Foggy! I'll wait a little longer before I call them, but when I do I'll ask for a copy to be emailed over. Hopefully it won't be much longer...
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KitLost
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by KitLost » Wed Jan 23, 2019 3:01 pm
Update:
So, had a missed call and a message from Sprout today, assumed they were just chasing for the report and payment details, but no! Turns out Sprout went straight to McD and obtained a copy of the report (which had miraculously appeared) along with everything else they needed. All I need to do now is sign the documentation Sprout send over and its done :D

I must say, while I do understand it's all to their own benefit, I am seriously impressed with all my interactions with Sprout so far, they have been very easy to deal with. I was happy to play go-between for them and McD but they've taken care of all of it. I can only hope they're this good once the loan has started :P
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Foggy
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by Foggy » Wed Jan 23, 2019 3:05 pm
Great news, Kit -- please let us know how things go in the future.
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KitLost
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by KitLost » Wed Jan 23, 2019 3:34 pm
Thanks Foggy, I was thinking about writing a blog for posterity
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kallis3
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by kallis3 » Wed Jan 23, 2019 4:18 pm
Glad you have been sorted.
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