Can someone explain what happens when you make a F & F please? I have six months left on my IVA, and I have written my F & F letter, and my partner (who is putting up the settlement money) is writing his. What else will the IP ask for? Do they need more payslips or bank statements, or is the F & F letter enough?
Thank you x
With only six months left on the IVA are you sure that it is sensible to offer an early settlement? Why not just see the IVA out and avoid any additional costs. I think that creditors will view this as a little strange - but if your IP is happy to put it forward then leave it up to them.
They may need additional information - but only they can really answer your questions specifically.
Thanks for your reply. I was just wondering what you meant by 'additional costs'? Does it cost extra to finish the IVA early?
With only six months left can you explain what I need to show at the end of the IVA please, or what the IP needs to check. Do I still need bank statements and payslips?
If your IP is going to call a variation meeting to seek and early conslusion of your IVA, then they may require you to fund the cost of that. Has this yet been discussed with you?
You are unlikely to need to show anything at the end of the IVA apart from to confirm that you have not received any windfalls during the past year.
I did not know about the extra costs incurred when finishing an IVA. Thanks for telling me about that, I shall speak to my advisor. It doesn't seem worth finishing early after what you have said.
