Hi, I posted on this forum some months ago about delays I was incurring in calling a creditors meeting to try to get a F&F offer accepted. At the time I was being quoted up to 16 weeks just to get the meeting called. Thank you to everybody that told me this was unacceptable and outside of the terms of the agreement.
To cut a long story short creditors meeting was called on the 4th July and we eventually managed to get an offer accepted.
I have been continually pushing to get the closure process completed as soon as possible but the recent administration of Debt Free Direct and subsequent sale to Aperture has not helped.
However, I have today received our completion certificates (Joint IVA) which I am 'over the moon' about to say the least but the team left dealing with DFD closures are not able to issue the final receipts & payments and final report at this stage. Apparently Aperture are still trying to access some of the old DFD systems which hold much of the old data. I am concerned that even though I have the certificates whether the delay in issuing these reports will delay us coming off the insolvency register and our credit files being updated. I appreciate the IVA will remain on credit files for 6 years from the start date and we will remain on the insolvency register for 3 months but am keen to at least have it showing as closed. Will we stay on the insolvency register for 3 months from when they receive the reports or will it be 3 months from today regardless of when they receive the reports? I not sure when this will be but it seems unfair when I now have the certificate.
I would be interested to know what some of the IP's and experts that post on here think of this situation and whether it's common practice.
Normally the certificate and final rports are issued together -- I would ask the Insolvency Service direct what their views are as that it the view that will prevail ( believe me .. I have tried discussions with them in the past and they are not very pliable!).
It is not a normal situation but one that Aperture (Grant Thornton as was) have been through a few times -- not usually with impressive results ... but they will get there in the end.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I would assume that this means the IVA has completed and the insolvency service informed. The final paperwork will only be for finance reasons to ensure all dividends have been paid correctly which has no bearing on you. Drop Aperture an email for confirmation but I can only think your IVA is over.
Michael Peoples wrote:I would assume that this means the IVA has completed and the insolvency service informed. The final paperwork will only be for finance reasons to ensure all dividends have been paid correctly which has no bearing on you. Drop Aperture an email for confirmation but I can only think your IVA is over.
Hi Michael, many thanks for your reply.
DFD/Aperture have confirmed to me this morning that the Insolvency Service will not be informed until the reports are sent to them. Seems a little unfair when I have the completion certificate?
Once they have been informed it can take up to 3 months to come off the Insolvency Register.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
kallis3 wrote:Once they have been informed it can take up to 3 months to come off the Insolvency Register.
Thanks Kallis3, I appreciate there is a statutory 3 month period that you stay on the insolvency register after completion but my complaint is that surely this should start from the date of the completion certificate and not a later date when reports are issued? DFD/Aperture are saying they will not inform the insolvency service until they complete the reports and the 3 months will start from then. Just seems wrong to me when I have a completion certificate in my possession?
My conversations with the Insolvency Service were like talking to a brick wall, but I would still try to contact them with a copy of the certificate and see what they say.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Foggy wrote:My conversations with the Insolvency Service were like talking to a brick wall, but I would still try to contact them with a copy of the certificate and see what they say.
Thanks Foggy. I have written to the Insolvency service using the online contact form but apparently it can take up to 15 days to get a response.
I'll let you know what they say when I get a reply.
OK I've now had a response from the Insolvency service. Although I have a completion certificate, they will not update the register until they see all paperwork which includes the creditors report and final receipts and payments report. They say under Insolvency legislation the IVA firm have 28 days to issue the full set of documentation. (Aperture/DFD have said full documentation will be issued within 28 working days)
So I guess I will just have to be a little more patient.
Interestingly the Insolvency Service have said that if I send them scanned copies of all of the required documentation once I have it, they will act upon that and update their records immediately.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
