Author Topic: IVA Full and Final settlement 3 months to prepare file for creditors????  (Read 10749 times)

KayF

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  • Posts: 1
Good evening all

I'm new to this site and just wanted to gain some feedback from those that have offered a F&F settlement in an IVA.

I am in my final year of my IVA, this has been the worst year throughout the IVA.  I have had a change in tax code (income down by £130 pcm) and a reduction in CSA (£120pcm), also from August I will have to start contributing to a pension, which I don't currently do.

I have been speaking with my IP and have sent a letter of F&F offer, my parents have also sent their letter (funds are coming from them), but Ive been told by my IP that due to the sheer volume of people proposing a F&F settlement......it will take 2-3 months to prepare the file and then a further 30 days for the creditors to meet.  I could be looking at a 4 month wait before a decision is made, in the meantime...I am really struggling financially.

I guess the questions I want to ask are:  Is this a realistic timescale?  Is there anything I can do to speed this process up?

Thanks in advance for any replies :)

alastair swanwick

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  • Posts: 11
Yes, that's a realistic time