This is an approach which is very in line with that which most of us have been working towards in conjunction with our regulators for some time now, as well as within our respective trading associations.
The ability to deal with assets post-completion exists in most IVA terms, the issues of the ongoing supervisory costs and method of remuneration for the IPs concerned is less defined under the IVA Protocol terms, and as David says we will all have to be sure that our clients continue to co-operate with the claims process as the powers of a subsequent Trustee (of the continuing trust and not a bankruptcy Trustee) will be limited to those contained within the assignment document - which can only in turn deal with issues directly relating to the claim.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by David Mond
From Monday next week (and by Friday at the latest), all clients who have made all of their contributions and have completed their IVAs but for any possible realisations from PPI mis-selling will be sent a letter detailing our closure process which will involve ClearDebt taking an assignment of all of the potential claims which have yet to be settled.
Any one got one of these letters yet?
I may be mistaken but believe that I am included in "all clients who have made all of their contributions and have completed their IVAs but for any possible realisations from PPI mis-selling will be sent a letter detailing our closure process "
7 years after starting an IVA I finally received a completion certificate from ClearDebt
Following on from my posts last week, I can confirm that ClearDebt have issued the Assignment documents to 170 clients this week.
This number represents every case we have awaiting their completion documents who have complied fully with all requests and have provided all the required information and have no issues outstanding on their accounts.
This is merely the first batch of assignments and we hope to carry on issuing more from early January and then for every client 3 months prior to their estimated completion date to prevent any further delays.
If any ClearDebt client requires any further information then we are always happy to help.
May I take this opportunity of wishing all readers and posters a Merry Christmas and a Happy New Year.
David
Last edited by David Mond on Sat Dec 22, 2012 12:27 pm, edited 1 time in total.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
Glad you have read my email Heretoday and perhaps you might be in the next batch!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
I totally agree with you there Andy, having been one of the many caught up in this fiasco it should've never have started in the first place, there should have been clear guidelines issued to every IP at the outset not left open to subjectivity!
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
I've only just stumbled on this thread , not sure how I missed this
Great news for clear debt clients and congratulations to David who has clearly been working on this for some time. If some of the larger companies ie GT & DFD end up using this clearly set out procedure then indeed that would be a huge step forward for all concerned
Heretoday , progress at last and if I were you , i would ping an email over to clear debt to see if you can be included in the next batch
Let the final countdown commence !!
Last payment made April 2012
Certificate received 1st Nov 2012
After completing our IVA last September, yesterday we received a letter to state that clear debt had not even started claiming back our PPI.
We have had several letters from clear debt asking for account numbers, old bank account details etc months ago. Called Clear Debt today only to be told by whoever that clear debt are not allowed ask the ppi company dealing with the claim for a progress update. How can that be? Banks only have a finite time to respond to all claims, which I now believe is down to 12 weeks.
So whats going on, its now been SIX YEARS SIX MONTHS since we started our IVA and i'm getting pretty annoyed with being fobbed off.
All I want is my certificate of completion and my name removing from the insolvency register. How hard can it be!
Cleardebt are in trouble. Their share price collapsed 70% yesterday as they are delisting from the stock exchange. I wouldn't be surprised if they are swallowed up by a bigger firm in the very near future. If they don't they are likely to go bust.
A very quick Google search comes up with no such figures JPS!
First you make assumptions about GT without supplying any facts. Now you have a dig at ClearDebt, again with a statement that has no facts or weight. Can you please post the credits of your statement so we can all see the facts not just a random post by an anonymous web user?
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
I'm afraid I am an avid stock watcher, and that their are some facts about this on the london stock exchange website - very easy to find and use to locate information.
It appears that they have had a difficult year, but hope to pick up in the future.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
