Changes in IVA regulations recently?

[sonia_k]

Hi,

My partner is in the process of setting up an IVA - or has been attempting to since October last year! He has constantly been given excuses of why the creditors meetings have not taken place - none of these are related to the creditors! The recent one being - there has been a significant change in the IVA regulations therefore his application will need to be re-submitted. Hs anyone heard of any sort of changes that may stall an IVA meeting being arranged?

Thanks
Sonia

[emma_t]

Hi sonia and welcome to the forum

The average iva takes around 6-12 weeks to set up I believe, so thats an awful long time to wait..
I am sure an expert will be around soon to clear up the point about the change in iva regulations, but I have not heard anything.

Just wanted to ask which company are you with and are you paying any upfront fees??
Also is your partner still paying anything to creditors?
I would ring the IP company and demand some answers of the timescale this will take, failing that I would change providers to a ore reliabe IP.

Have a look on www.iva.com for reviews of IP's and you will be able to see the reviews of the company you are with.

As I said an expert will be along soon to claify, I am only a novice as entered into my iva 6 months ago!

Best wishes
Emma

[sonia_k]

Thanks Emma.

I'm with a company called DebtFixers, can't remember my partner's one.

I've just come across this site today so we'll be going through the site later. Can't believe how much advice is available!

Thanks! [:)]

[emma_t]

It is amazing sonia, I would never have coped without it!!

I am sure experts will be along to answer your post later
Emma x

[Adam Davies]

Hi
Have you paid any money over to debtfixers ??
Regards

[MelanieGiles]

There is no such firm of insolvency practitioners called Debtfixers, so they cannot possibly be preparing an IVA for you!


However, the following is a quote from their website:-

The IVA can only be supervised by a Licensed Insolvency Practitioner such as those at Debt Fixers.

So can you find out for us exactly who is acting for you, and whether "Debt Fixers" is a trading front for an actual insolvency practice, or whether they are a firm of finders.

As as a matter of interest, I changed my proposal documents used in my firm to the new protocol within 24 hours of it being launched, so the excuses you are being given may not be reasonsable.

[size5]

The new IVA protocol is a voluntary code, and whilst very significant, is not in itself a reason to re-submit a proposal.

I can only echo emmat's sentiments and encourage you to visit www.iva.com to look at the reviews and speak to 2 or 3 people for a balanced view.

Regards.

[sonia_k]

Thank you all, site's been a great help!

[ianmillington]

I would agree, this is a totally unacceptable delay.

To pick up on Andy's point, if your partner has started paying the contributions there is the practice applied by some IPs or "finders" (none of whom post here I add)of spinning things out until their setup/nominees fees have been paid.

Unless you get a proper explanation of why there is a delay, get your papers back and instruct someone else.

ian

[jpj]

Hi
Have you paid any money over to debtfixers ??
Regards