F&F process

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jessi3498

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Post by jessi3498 » Sun Mar 22, 2020 10:26 am
Hi IVA community

Looking to F&F settle with my IVA which is with PAYPLAN.

Money is being gifted by Parent, question is does anyone know what information PAYPLAN will request at the start throughout the process?
I have a property release clause (at start of IVA his was under £5k so no equity).

Guessing I’ll need:

1. Mortgage redemption statement
2. Secured Loan redemption statement

Unsure what PAYPLAN will additionally want:
? Update to date I&E
? ID from parents
? Payslips

Curiously PAYPLAN have never requested Bank Statements at any review period - any people have knowledge of PAYPLAN requesting these when considering the F&F stages

Foggy

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Post by Foggy » Sun Mar 22, 2020 11:13 am
I have responded elsewhere, so will not repeat myself --- but, yes, the equity release will need to be looked at, if the 12 month extension hasn't been factored in --- hopefully there will still be less than the trigger £5k.

With regard to other Payplan customers experiences: Payplan have in recent years undergone a restructure of resources, which has altered the way they seem to do things, so, what has happened before might not be what it happening now.
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

jessi3498

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Joined: Tue Jan 21, 2020 11:25 pm

Post by jessi3498 » Sun Mar 22, 2020 4:43 pm
Thanks Foggy

PayPlan used Mousepeice to value my property at first which they said it was free to do but doesn’t seem to work when I do it!
Do you know if there is a website that offers rough estimates ? I’ve tried/failed to find one.

In any case I’m not sure if this isn’t pointless - they’ll probably want a full valuation done - which in the current climate is likely not to happen!

kallis3

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Post by kallis3 » Sun Mar 22, 2020 5:30 pm
I had a local valuer in to do mine and give it me in writing - said I was being made redundant and needed to move quickly.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

Foggy

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Post by Foggy » Sun Mar 22, 2020 5:51 pm
Some have used Zoopla and Rightmove, often just popping in a town and comparing like for like -- which is very hit and miss as the general IVA'ers property has probably had minimal maintenance and decoration for 5 years or so and asking prices are often above actual market value to build in negotiating room.
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
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