full and final settlement

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ian1968

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Post by ian1968 » Fri Mar 19, 2010 10:31 am
Hi all i have made a full and final settlement towards the end of january and i have phoned my iva company and have been told this has now been drafted and waiting to be signed by a manager. Im slightly confused on the ladies advice. Once this has been sent to my creditors which i believe is 28 days she then told me we would be given a date after this for a creditors meeting.
I suppose my question is - what is the process after the 28 days. Does it take another 2 motnhs? or how long after the 28 days can i can i get an answer to see if my offer has been accepted. thanks for your help as usual - just worried as my new job role which will start in the middle of May means i cant be in an iva.
a very worried and sleepless wreck - thanks for any advice - Ian
 
 

Michael Peoples

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Post by Michael Peoples » Fri Mar 19, 2010 11:51 am
Once the variation is signed by you a copy will be circulated to all creditors giving them 28 days notice of the meeting. The decision should be made that day and the file closed on receipt of the full and final funds.

Speak to your IP and explain your restricted timescale and ensure all creditors have claimed. This will allow a quick closure of the IVA.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Adam Davies

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Post by Adam Davies » Fri Mar 19, 2010 11:56 am
Hi Ian
As Michael has stated you must chase your case manager/IP and mahe sure that they understand the urgency
Regards
Andam Davies
 
 

ian1968

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Post by ian1968 » Fri Mar 19, 2010 2:39 pm
Thanks for your input - just received phone call stating my creditors meeting is on 22 April - fingers crossed - i offered the amount that they would get if the iva runs the full course.

heres praying - thanks to all - again this site is a life saver. ian
 
 

MelanieGiles

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Post by MelanieGiles » Fri Mar 19, 2010 3:01 pm
There are no real set timescales for closing a case after a successful variation meeting - but clearly the sooner the better for all parties concerned.
Regards, Melanie Giles, Insolvency Practitioner
 
 

luluj

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Post by luluj » Fri Mar 19, 2010 8:06 pm
Good luck ..hope your offer is accepted and your new job works out
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
 
 

Skippy

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Post by Skippy » Fri Mar 19, 2010 8:18 pm
Good luck on 22nd April and with your new job x
 
 

kallis3

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Post by kallis3 » Sun Mar 21, 2010 7:27 pm
Good luck from me as well.
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
 
 

Lisa2009

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Post by Lisa2009 » Sun Mar 21, 2010 8:15 pm
Good luck from me also.
http://mrsskint.blogs.iva.co.uk/ 'Our Story'


Nil carborundum illegitimi
 
 

ian1968

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Post by ian1968 » Thu Apr 22, 2010 2:05 pm
Hello one and all - feeling pretty good today as i have received a phone call from GT that my full and final offer has been accepted and they will be sending me a form to sign. They also said that once the money is received then certificate of completion will be sent within 6-8 weeks. my main 2 creditors had agreed so the other votes were not needed. Feeling really good.
cant wait for the cloud to be finally lifted and to start working at saving more and buying cash. lol

Thank you to you all for your advice and will let you know the next stage when i have the certificate.

All the experts should be proud of themselves has they are the IP's that have helped us to understand the legal jargon and the law when it comes to IVA - for this i am truly grateful and i am sure the others are too....
 
 

Michael Peoples

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Post by Michael Peoples » Thu Apr 22, 2010 2:36 pm
Great news Ian but push GT to clear up the paperwork. They seem to have done a really good job to date but you do want your IVA completed before the new job starts.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
http://www.mccambridgeduffy.com
If you would like to talk to me about proposing an IVA or have any questions at all please visit www.mccambridgeduffy.com
 
 

Shining

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Post by Shining » Thu Apr 22, 2010 2:38 pm
Great news Ian x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

kallis3

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Post by kallis3 » Sat Apr 24, 2010 8:41 am
Just caught up with this - excellent news!

Good luck for the future.
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
 
 

moretolife

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Post by moretolife » Sat Apr 24, 2010 10:59 am
From our own experience the day you open the post and see the Certificate of Completion...is the best day in a long while..!!

Hope your new job works out great and you can move on into a debt free future..well done
IVA completed 11th Dec 2009 due to a Full and Final with the fantastic help of Michael Peoples and
Mc Cambridge Duffy

Visit my blog...Journey from Debt to Life Post IVA
http://moretolife.blogs.iva.co.uk
 
 

kallis3

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Post by kallis3 » Sat Apr 24, 2010 11:05 am
Hope the new job works out ok.
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
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