Hello to all,

i would appreciate some help as i am looking to end my IVA with Grant Thonrton with an early Full & Final Settlement.

Has any one got any examples of what to offer by way of a percentage of the outstanding balance and

how to go about it by way of a template letter?

IVA started Feb 2011,

Balance around £8,000

hope you/they sent CCA request to each of your creditors in the IVA before you signed on the dotted line?

I bet not!!

dx

hope you/they sent CCA request to each of your creditors in the IVA before you signed on the dotted line?

 

 

I bet not!!

 

 

dx

Sorry to sound stupid but i dont understand your reply?

who checked that those firms through your IVA had the LEGAL PAPERWORK

to even demand money from you? or claim you owed them anything?

dx

Oh i see,

sorry for the ignorance but thats probalby why im here.

.lolwell i wasnt aware back then of the correct CCA paperwork so you may well have a point.

is this something i can recall or is it too late?

Any how, i would still like to know how to handle to FFS of the IVA just in case.

thanks

DGS

if the IVa started 2011 its 5yrs duration

go check the contract.

if you know who is being paid through it?

then I'd be sending each creditor a CCA request

only costs £1

and anyone that faiis it

can't demand, nor should be paid any monmey whatsoever!!

trouble with most DMC's and those companies that offer IVA's etc etc

is they are only in it for one reason PROFIT!!

and not YOURS!!

most of those that offer these solutions are ex or linked to one of the major DCA's and 'work things out' so

they both get the most they can from you via fees etc etc

when the truth be know, most of your debts were unenforceable in the very first place!!

and ofcourse is screws your credit rating for another 6yrs too.

and ofcourse any PPI reclaims go in their , sorry your, [pun] pocket too

and 9/10 they don't even tell you they are pocketing that too!!

theres not harm in dumping the IVA either

if you find you are being fleeced blind by them or the supposed creditors in your IVA

another quick check

go get your credit file

do all your debts in the plan show?

i'll duck now when you find out the truth.

dx

lowells oh dear.....

dx

I have had a response from Grant Thornton regarding my enquiry into a settlement.

( i have not made any offer yet by the way)

They say have paid £13500 to date and they say i agreed to pay £25,000 as per my IVA.

I have cheked my paperwork and the amount agreed for the creditors was £18000 over 60 months

with another figure showing £21000 over 72 months.

If i understand it correct, the IVA is for 5 years and then they see if you can release any equity from your home

and if not, the IVA carried on another year?

please correct if im wrong..

am i correct in thinking the £25k quoted includes the fees charged by GT?

If so, are these fees adjust pro rata if settles early?

thanks for the help anyone.

DGS

not sure on most of that

it would be in your contract T&C's.

can you list WHO is paid thru the IVA please

[the debts and the owners that now get paid]

dx

Sorry for not replying sooner:

The list of creditors on my last annual statement dated 27th Marh 2014 shows the following:

1.Barclay's Bank- 2 accounts

2.Cabot Finance Ltd

3.Egg Banking

4.Halifax

5.HSBC

6.Lloyds TSB

7.Max Recovery - 6 accounts ( i assuming these were sold on by the original creditors which were mainly credit cards.

8.MiINT

9.PCI Holdco S.a.r.l ( No idea? but a card or loan i think)

10.TTI Next

fee Type Approved Paid to date

Nominee fees £1250.00 £1250.00

Supervisors fees £3053.82 £1212.08

Disbursement fees £329.00 £164.00

hope this helps

thanks

Nominee Fees

2,7,9,10

certainly raise eyebrows

Update:-

I have discussed the option with GT and they said my offer will probably be accepted as it is close to what they would be getting anyway if the IVA was completed.

Should be hearing any day now so i will update.

Any advice on what i should put in any letters that i send with the payment?

so are they confirming in writing that all the debts in the IVA will be settled and marked so

on credit files etc?

and that each creditor has confirmed they are happy with this

dx

Thats will be questions once i get the decision that my offer has beed accepted. I will keep you posted. ThanksDGS

Update--- Early settlement offer accepted.

I have asked the following questions:

Will my credit file be updated by all creditors as settled and no further contact from creditors?

Any other questions i should ask?

certificate received and all clear and debt free....

Thanks for those that replied to my post's.

just one more question;-

My 6 years is not up until Feb 2017 so im assuming that is when it will not show on my credit file.

In the meantime, my current mortgage deal runs out next Aug 2016,

will it help that i am out of the IVA and

does anyone know or recommend any advisers that may help.

sadly we don't allow recommendations so be wary of any PM's you get .

**update**

certificate received and all free from the iva

Update: New mortgage with The Vernon completed. Credit file still shows IVA but they will deal with people in these circumstances as long as the IVA has been paid off for 12 months. Worth knowing. Got a good rate at 1.25% on an 80% LTV.