Full and Final Settlement

[kallis3]

I think you just have to be truthful with your IP and tell him the situation as it stands.

As long as you are paying your monthly payment, your IVA will continue as it is.

You are not saying that there will be no money, just that it might be a little later than you first thought.

[irish_ram]

Cheers guys,

Right, I rang my IVA and advised them that the funds are likely now not available till end of June and would need to amend the Variation Meeting.

She put me on hold and then came back and said aslong as I keep up monthly payments till then it would be fine and they would then put the Variation through for end of June.

Its a weight off my shoulders but does this sound right, she said I would not have to sign a new document or anything as they would take car of it all come June

[kallis3]

Sounds ok to me, and she should know what she is talking about.

A big relief for you irish_ram! Not long till June now!

[irish_ram]

Cheer kallis3,

It is, I think from the moment I had the opportunity to do this, I was always sceptic something would go wrong and thought this was it, but at the end of the day I have to wait a few more months to Complete my IVA. I mean compared with having to pay it for 5 years, I think I am still in a brilliant position.

[kallis3]

I wish I was in that position! Never likely to happen though.

[MelanieGiles]

I absolutely concur with David on this one - and actually insist on the money being held by me prior to the meeting where possible. In this way, I can combine the Chairman's Report and final meeting in one, and close the case within 4 days from the date of the meeting.

[irish_ram]

Cheers Melanie,

Just realised something and dont know why it didnt come to me before, I have re-arranged F&F to be end of June, however mt GF money is not getting realised till then, so if they want a cheque or proof that the money is in my GF account, should I arrange it for July as the money wont be in account till end of June.

[MelanieGiles]

Yes - give yourself another couple of weeks leeway just in case.

[irish_ram]

Sorry, but thought of another question

When my F&F was for march, they were arranging the meeting straight away, well as soon as they could anyway. But now I have told them that its not going through till the end of June, will they still arrange the meeting as quickly as possible or will they wait a few months before doing it

[MelanieGiles]

If I were your IP I would get the variation done as quickly as I could. There is no point in delaying this matter further, and the money can be paid in when it is available and the case then closed.

[irish_ram]

Cheers Melanie,

Im not sure which way they are doing it then, Ill have to ring them.

If they say they are going to wait to do variation meeting, can I request it being done straight away and then if accepted by crediters, I could pay the money anytime between now and june if it does get relaesed early for me to use?

[MelanieGiles]

Yes - that would be find as well - so long as you are assured that your girlfriend will provide the funds at the end of the day.

[irish_ram]

Yeah, we were a bit hasty in when it would come but the money is definately there, just gonna take longer to get it.

But I am hoping the fact I am offering the same Lump sum and also paying another 5 months IVA payments, mean the pence in the pound will go up a bit so seems a better offer to them hopefully

[gaborkiraly]

i sent my full and final settlement letters to varden nuttall and they said once they receive them they will draw up a proposal this has been almost a month now.I emailed someone at the company and they said the ip has not looked at the full and final settlement proposal i just want the wheels in motion so that i can finish my iva early.

[David Mond]

Unbeleivable gaborkiraly - who is your IP or which firm are you dealing with?