Due to the ongoing failure of certain IVA firms to close down arrangements in a timely fashion, I think that stats should be published to show the average length of time it takes every IVA firm to close down an arrangement once final payment has been made by the client.
I also think that all marketing and information relating to IVAs must now remove any claims that having an IVA will 'write off your debt in 5 (or 6) years' - no time scale should be allowed to be quoted as its blatantly obvious the IP has the ability to keep your arrangement open at their own discretion for any reason they deem to be fit, regardless of anything quoted in the marketing, information packs or even in your proposal!
Rant over - but if IPs are going to ignore the welfare of their clients (they are supposed to have a duty to look after the interests of both the client and creditor) then there needs to be something that distinquishes the good and the bad out there and that no one is being misled on timescales when signing up for an IVA.
maybe if everyone started complaining to the financial ombudsman or suchlike something might change. these companies must be responsible to some kind of governing body? we should,nt be kept waiting when we,ve kept to our side of the arrangement
I entered an IVA with exactly IVORIVAs terms. See my signature,
My IVA is over now for 1.5 years, but i still come back and cry when I see people who have fully paid before I did and still have no completion. As some have said before, this is so sad that a route to solve peoples problems has been used as another revenue scheme.
Last Payment - November 2011 - Completion Certificate received 2 weeks after last payment, Removed from Insolvency Register within 4 weeks after last payment.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by herbekj
I entered an IVA with exactly IVORIVAs terms. See my signature,
My IVA is over now for 1.5 years, but i still come back and cry when I see people who have fully paid before I did and still have no completion. As some have said before, this is so sad that a route to solve peoples problems has been used as another revenue scheme.
Sandee, the only real avenue of complaint is to the IP's regulatory bodies. Technically they have done nothing wrong in the eyes of the regulators, but I feel they should be bombarded with complaints to try to make them pull their fingers out and recognise the depth of the problem and the abject misery it is causing.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
i answered without looking who they were responsible too but as you say they should be bombarded with complaints. the length of time some people have been waiting is shocking. in fact some ip,s could use this to their advantage by advertising the average length of time for completetion documents? or as ivoriva said maybe a list should be compiled of good and bad companies
