Full and final payment

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barry712
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by barry712 » Mon Aug 14, 2017 5:45 pm
I have a variation meeting coming up to decide if my creditors will accept full and final payment of my IVA by my daughter.
I have been told that if they do accept she can pay by debit card on the same day.
Will that mean it is over when they take the money or can they still come back for more later?
Done five years. nearly half way through my sixth. Fed up now.
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Foggy
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by Foggy » Mon Aug 14, 2017 5:48 pm
It will be over, save for waiting for the completion certificate, which could take from a couple of weeks to a couple of months ---BUT --- until that certificate is issued you are still bound by th IVA --- so don't win the lottery, sell the house, or bump off Great Aunt Matilda, as windfalls will still have to be paid over
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barry712
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by barry712 » Mon Aug 14, 2017 6:03 pm
Thanks Foggy.

None of the above are likely. Still, good to know it will be done with
If they accept that is.

Thank you.
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Lisa Thomas
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by Lisa Thomas » Tue Aug 15, 2017 8:27 am
TBH it seems a bit late in the day to be offering a f&f on the basis you didn't have long to go.

They should close it quickly after receiving payment but some firms take up to 6 months to close and give you your CC so keep the pressure on them to close it quickly.
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