How long to get creditor verdict?

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sophie598

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Post by sophie598 » Tue Feb 02, 2021 8:36 am
Hi, I’m preparing a F & F offer for my Iva CF.

How long does Credit fix usually take from the day of submitting all the docs and email to the IP to getting an actual answer from creditors of either getting accepted or rejected ?

I heard it takes about 4 to 6 weeks. I want to send the mail today but the donor said he would preferably pay in 4 weeks time( after 26th March). Will sending mail today be the right sort of time frame if the donor wants to pay after end of Feb?
PS: he already has enough funds to make a F &F offer but it’s just his preferred date.

Any sort of advices are very welcome.
n grg

kallis3

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Post by kallis3 » Tue Feb 02, 2021 8:42 am
It's normally 28 days after the offer goes in but you should not pay any money across until it has been approved.
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

sophie598

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Post by sophie598 » Tue Feb 02, 2021 9:03 am
Okay thank you,

What’s the earliest you have found about them finding their answers/ results from creditors ?

Yeah the donor won’t pay until it gets approved. And is it 28 normal days or 28 working days ?

Sorry it might have been answered before but I just wanted to be 100% sure.

Kind regards, :D
n grg

sophie598

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Post by sophie598 » Tue Feb 02, 2021 9:06 am
I also came through two terms, early settlement and F&F Offer. Which ones are the best in terms of getting accepted.? What’s the difference?
Thank you
n grg

kallis3

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Post by kallis3 » Tue Feb 02, 2021 9:22 am
Settlement requires payment of your debts in full plus fees, full and final means you pay back an agreed portion. I imagine it would be 28 working days.

CF do run by their own rules sometimes though.
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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