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rachel270

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Post by rachel270 » Fri Nov 13, 2020 4:00 pm
Hi all.
My partner offered a full and final settlement to stepchange to pay off my IVA. He offered the remaining contributions so it is just a case of my IP accepting it rather than going to creditors.
The offer was put to them over 6 weeks ago and we are still waiting for a response. I've called stepchange 3 times and I get the same answer of "it is with your IP and we will get back to you as soon as possible" and they always say she is really busy.
Is there a time limit to when it needs to be approved by my IP? My partner didn't state in the offer that is only available up to a certain date (kicking myself now about that)
Thanks everyone

Foggy

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Post by Foggy » Fri Nov 13, 2020 4:06 pm
Even though it is for the full expected payments it still has to be put to creditors as it is a variation of the contract between you and them -- Unless, as you mentioned before, this is actually circumvented in your proposal with the discretion to accept such an offer already granted to the IP. Normally an IP is expected to draw up the variation within 21 days of getting everything they need from you, then give the creditors due notice of the variation meeting (another few weeks). These things usually take 2 to 3 months to organise, without all the hassles of covid delaying everything. Of course, none of this applies if a variation meeting has, indeed, been dispensed with.
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

rachel270

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Joined: Tue Jul 17, 2018 12:52 pm

Post by rachel270 » Fri Nov 13, 2020 4:22 pm
Hi, thanks for your reply

It is my contract that my IP has the discretion to approve the full and final without going through my creditors as we are offering the full amount of remaining contributions
Should it still take this long even though it's just down to my IP? They said it wouldn't need to go to creditors
Thank you ☺️

Foggy

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Post by Foggy » Fri Nov 13, 2020 5:00 pm
The issue with Stepchange is that they have too many cases for their 3 IPs to handle, which inevitably leads to delays and to the disconnection between IP and client that the firm fosters.
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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