CreditFix - Full and Final

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nevillebunny
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by nevillebunny » Sun Feb 11, 2018 12:08 pm
Hi All.

I have asked Creditfix just waiting on a reply, but just curious if anyone has any experience.

My mum has offered to put in a Full and Final offer for me to close my IVA, which currently has 12 months left to run. CreditFix have asked her to put the offer in writing, with proof of funds, and photo ID. The only issue is she has no photo ID. She has a passport that has not long expired. Does anyone know what other forms of ID they would except?

Hugs to all.

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Foggy
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by Foggy » Sun Feb 11, 2018 12:14 pm
I would try offering the passport -- some will accept it 6 months post expiry for an ID check.
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Radish
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by Radish » Sun Feb 11, 2018 12:39 pm
My parents where going to lend + contribute - to me the money to pay my IVA off 5 months before the last payment to the exact amount I would have paid during that time (£1.500 I think) but I never preceded when I was told that. although I would have paid the money early - my last payment date would still be the same as if I had paid it the way I was. I would not get my certificate any quicker and would be liable to pay any windfalls before the certificate came. So I just carried on as I had. Maybe the worlds "full and final" make a difference? But I am sure you would still need to pay any windfalls you receive even after this?

Not sure - hope someone will correct this if I'm wrong? :?
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Foggy
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by Foggy » Sun Feb 11, 2018 1:08 pm
Radish wrote:
My parents where going to lend + contribute - to me the money to pay my IVA off 5 months before the last payment to the exact amount I would have paid during that time (£1.500 I think) but I never preceded when I was told that. although I would have paid the money early - my last payment date would still be the same as if I had paid it the way I was. I would not get my certificate any quicker and would be liable to pay any windfalls before the certificate came. So I just carried on as I had. Maybe the worlds "full and final" make a difference? But I am sure you would still need to pay any windfalls you receive even after this?

Not sure - hope someone will correct this if I'm wrong? :?


If you make a full and final offer,which is accepted, the completion process starts when you make the payment -- this IS your final payment. However, like in an IVA that goes to term, you are still liable for windfalls until you get the certificate. But, you do get the certificate earlier than you otherwise would have done.

Radish -- in your case you were not making a full and final, you were simply making payments in advance --- 5 months is too short a time to make a F&F worthwhile.
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nevillebunny
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by nevillebunny » Sun Feb 11, 2018 1:23 pm
Hi Foggy

Thanks for the help.

So if my parents did make a successful Full and Final, I would still be in the IVA until I get my certificate which would still be after the 12 months.

Is that what you mean?

Kind Regards
James
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Foggy
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by Foggy » Sun Feb 11, 2018 1:35 pm
nevillebunny wrote:
Hi Foggy

Thanks for the help.

So if my parents did make a successful Full and Final, I would still be in the IVA until I get my certificate which would still be after the 12 months.

Is that what you mean?

Kind Regards
James



If you make a full and final offer you are still in the IVA until you get the certificate -- BUT they will issue the certificate early. They start the completion process as soon as you make the F&F payment. I ws pointing out that Radish's case was different in that he didn't make a formal F&F offer.

So, if you make a F&F today, which is accepted in, say 2 months, you will still get your certificate 10 months sooner than you would have.
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Radish
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by Radish » Sun Feb 11, 2018 1:48 pm
Thanks Foggy :D
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