Greetings, I apologise if this sort of thing has been asked and covered before but I could just do with a bit of advice.
I started an IVA in Sept 2011. Since then my circumstances have changed massively, I got married and moved from my parents into rented accommodation with my wife.
In November my mother-in-law kindly offered to assist to end the IVA by providing funds for a full & final settlement offer. I spoke to my IP who advised what she thought would be a reasonable offer (the offer being the total of my remaining monthly payments). I wrote to my IP on the 11th November and provided evidence of the funds that had been transferred into my wife’s account. Over the next few weeks I had to send in new proof income and expenditure and my latest batch of payslips (all the communication was one way, not once did my IP return my calls, I’m sure they got sick of my voice) On the 11th December, they agreed to set up a variance meeting. I’ve now been told that it can take up to 2 months (from the 11th November) for them process and send me a letter (which I have to agree with and sign), followed by giving my creditors 30 days notice. Hence my variation meeting might not take place until the 11th March. Is this the norm?
No - mid February as a maximum and you should now reduce your offer by every month that they have delayed.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
...and what I really meant was mid January plus the timescales are defined by which protocol you are on.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Thank for the response. When I originally asked for the meeting, they said it could take up to three months. Consequently both mine and my mother's letters stated that any monthly payments I make (£403 per month) prior to the variation meeting would have to be deducted from the final offer.
I'm just very disappointed with my IP at the minute. All the communications has been one way, out of the five call backs I've requested, only one has actually occurred. They've constantly stalled and said they hadn't received documents (when they clearly had as they'd even been sent back to me) and then miraculously found them whilst I was on the phone. Even today on the phone my relationship manager was very dismissive and seemed disinterested in my case. She said, and I quote: 'its you again, I only spoke to you last week' and then words to the effect of we're very busy, you'll be dealt with when we get time
I think I'm going to begin a formal complaint tomorrow. Is there anything from a legal perspective that I can use to get them to speed things up a bit?
Personally I would hold on a formal complaint until yo have the creditor meeting date.
You applied mid November; you should have your F&F offer to creditors written up and submitted to creditors by now I agree but give them until next week ..some companies take a 2 week window at xmas so give them a chance.
I would hope your creditors meeting could still be end of January very early February.
Rather than complaining I would be contacting twice a week to hurry the situation
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
Thank you all for the support and advice, The company I'm with is Freeman Jones. I'll ring them again next week. For me, it just seems like they're stalling at this stage. I can understand them slowing down over the holiday period. However, I still think that the current process rate is unacceptable.
My name is Ian Williams and I am one of the team here at Freeman Jones. I've also just replied to your post on another thread.
I am sorry that you aren't happy at the progress of your F&F or with our communication. As I said, please drop me an email via ian.williams@thinkmoneygroup.com and I will chase this up for you.
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
