Endowment help please

[suzz]

Hi just like to ask for a bit of advise, we are doing an IVA (now this was accepted july 2007), the re-mortgage went through without a hiccup, BUT the endowments that were part of the agreement where to be cashed in, the problem is the original policies have been lost between the original mortgage lender the new mortgage lender and the solicitor, now we have for the last 3 months made phone calls wrote letters but have not turned up and no one is accepting loosing them (of course they wont) but the insurance companies insist that they have the originals, one of them L & G will provide a copy for the fee of £150.00, the other has recently changed there policy on cashing in endowments they will not sign any paperwork to execute this (they are Eagle Star/Zurich) any one any advise without the additional cost. Also how long will the creditors wait?

Thanks Suzz

[MelanieGiles]

Suzz

You have up to one year from the date your IVA was accepted to encash the policies, and I am sure that your IP will fund the £150 if necessary.

There must be provision for lost policies, and hopefully one of the financial advisors or insurance experts can help here.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp

See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp

[Welsh Boy]

suzz

You need to write to the company that you have the policies with and request a lost policy form to be sent to you, this has always been the standard route to take and all companies hold such documents.

It is then a case of completing the aforementioned document and returning it to the company concerned.

You would actually be amazed at how many policy documents are lost for whatever reason.

Hope this helps.Tony

F.P.C. 1,2,3 Qualified
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