When should we expect the creditors meeting for F&F? I am with payplan.

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Hot and cold
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by Hot and cold » Wed Jun 28, 2017 5:23 pm
Hi, We made a f&f offer two months ago to payplan and the only additional information they requested was mobile bills last week, they have not yet arranged the creditors meeting or sent us out any paperwork to sign. I called them and they could not advise timescales to the meeting advising process is 4-6 months, when should we expect the creditors meeting? Thanks in advance
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harrysmummy78
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by harrysmummy78 » Wed Jun 28, 2017 5:53 pm
We are with Creditfix we put an offer for a F&F in on the 7th June I received an email the following morning to advise a Creditors meeting had been arranged in 28 days we have our F&F meeting next week on the 6th July.. I am not sure why they would be telling you 4-6 months? this seems a very long time butfrom previous posts I have seen Payplan can take a long time with these things. Good Luck with your offer.
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Foggy
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by Foggy » Wed Jun 28, 2017 6:13 pm
The "standard" timescale is up to 21 days for preparing the variation and a further 21 / 28 days notice of the meeting of creditors --- so the whole thing should take 2 months. Most seem to go through in about 3. Payplan, however, work to their own, unique, timescales and, invariably, take 4 or 5 months -- often longer. They also appear to be impervious to complaints.
Hot and cold
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by Hot and cold » Wed Jun 28, 2017 6:22 pm
Thanks you both for your replies! What do we do to hurry them up then? Is there a complaints process? Thanks
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Foggy
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by Foggy » Wed Jun 28, 2017 6:28 pm
Hot and cold wrote:
Thanks you both for your replies! What do we do to hurry them up then? Is there a complaints process? Thanks



They can't be hurried, it seems. They don't bow to client pressure -- get fed new clients by creditors. You can complain to their regulators via the Government Gateway, but will have to go through their internal complaints process first. The regulators can only slap their wrists and / or impose a fine.

Government Gateway is here:

https://www.gov.uk/complain-about-insol ... actitioner
Hot and cold
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by Hot and cold » Wed Jun 28, 2017 8:12 pm
Thanks looks like it's a waiting game! Thank you for all your help. Good luck with your creditors meeting next week!
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harrysmummy78
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by harrysmummy78 » Wed Jun 28, 2017 8:18 pm
Hot and cold wrote:
Thanks looks like it's a waiting game! Thank you for all your help. Good luck with your creditors meeting next week!



Thank you :) the last 4 weeks have dragged so much my nerves are in bits so god knows how you feel, Hope you get sorted soon and your meeting scheduled , Personally I would keep on chasing them.
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Michael Peoples
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by Michael Peoples » Thu Jun 29, 2017 7:56 am
By all means contact the IP directly and quote from the terms and conditions and if you get messed around make a formal complaint. I have seen this speed things up as no one wants complaints that can be avoided.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 29, 2017 9:40 am
Make a complaint - they have 21 days to call the meeting so no reason for delay... 4 - 6 months is a complete farce!
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SSC
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by SSC » Wed Jul 05, 2017 2:26 pm
Payplan are not the fastest! After waiting about 3 months for my creditors to agree to the IVA in principle we had our creditors meeting on 9th November 2016 . As soon as the F&F IVA was accepted, I transferred the money to Payplan. However, I only received my Completion Certificate on 26th June 2017. Payplan blamed it on the creditors but I am not sure this was the case. They issued a letter to my creditors on 21st April 2017 giving them 14 days to send their proof of debts. I was told that any creditors which failed to send their proof of debt will not receive any further payments and the monies will be distributed amongst the remaining creditors.
All I know is that Payplan benefitted from my £15,000 for over 6 months when, in theory, I could have done with the interest earning in my bank rather than theirs!
So - Payplan are NOT the fastest!
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Foggy
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by Foggy » Wed Jul 05, 2017 3:01 pm
SSC wrote:
Payplan are not the fastest! After waiting about 3 months for my creditors to agree to the IVA in principle we had our creditors meeting on 9th November 2016 . As soon as the F&F IVA was accepted, I transferred the money to Payplan. However, I only received my Completion Certificate on 26th June 2017. Payplan blamed it on the creditors but I am not sure this was the case. They issued a letter to my creditors on 21st April 2017 giving them 14 days to send their proof of debts. I was told that any creditors which failed to send their proof of debt will not receive any further payments and the monies will be distributed amongst the remaining creditors.
All I know is that Payplan benefitted from my £15,000 for over 6 months when, in theory, I could have done with the interest earning in my bank rather than theirs!
So - Payplan are NOT the fastest!



Unfortunately this story is not unique amongst Payplan clients ! :(
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