www.iva.co.uk

Hi folks, we are in the process of putting a F&F offer to our creditors thanks to an offer of a loan from a relative to clear off the last year of the IVA payments (no equity to factor in).

I sent the proposal to my IP firm two weeks ago but they need another two weeks to put the variation proposal together and then around 28 days to wait for a creditors meeting.

Getting really nervous about all this, feels like deja vu from when we first went into the process and the waiting is horrible.

Really hope it gets accepted, we are proposing the full amount outstanding plus the balance of some arrears we had accrued during the process so hoping this goes through.

Anyone else been through this??

Hi

I think the wait will be worth it. The timescales seem quite normal

Good Luck

Regards

Thanks Andy, appreciate these things take time, just awful waiting for someone to decide your fate!

I'd like to think that we have always looked after your case pretty well Dougie, but I do have a schedule to work to and waiting a month for the report to be prepared and drafted is pretty reasonable to be honest.

Waiting is always a pain -- but, with the usual timescales, at least the job will be done properly and due consideration given to all circumstances.

Just like the MOT every year -- it has to be done, but it has to be done properly.

Hi Melanie, sorry if the post appeared critical, not the case, I have no complaints about the service provided.

Having never been through this before there is nothing to benchmark against so it's hard to know what to expect at the various stages of the process.

It was more a case of looking for some reassurance from forum members who have been through the same thing.

Been through it twice in similar circumstances. i.e. when there was just over a year of monthly payments, no equity etc.

My parents offered a lump sum slightly less than my remaining payments (against my advice) and I still feel I was let down by my IP because whilst that offer was declined, I wasn't told that the meeting had been adjourned for my IP to contact me about increasing the offer - my Case Officer simply rang up, told me the offer had been declined and because I said "I doubt my parents would increase the offer" (believing the meeting was over) my IP didn't even ask if I wanted to sound them out first, and simply got the offer declined.

Had I been told the meeting was adjourned to give me a chance to see whether an improved offer could be made, I wouldn't have had to go through another 3 month delay whilst a revised F&F offer had to be progressed, which was accepted.

Did rather 'sour' the relationship between myself and my Case Officer.