I offered a full and final payment of 20p in the pound to finish my IVA. That was 3 years ago. The IVA company went into liquidation and " Re-branded its self " I have not heard anything from them since 2012, until this week. They have now arranged a meeting with the creditors to terminate the IVA, or what ever they decide. I have copies of emails and a letter from 2012 to say they have received my offer of 20p in the pound and they will present this to the creditors. I will contact my IVA supervisor next week to forward on all the previous information. What I need to know, is have they failed me in my IVA by not presenting this information back in 2012 and if so who can I complain to ?? I do not want Bankruptcy, but if the vote goes against me, what can I do ??
Thanks
You could try and speak to the regulators and make a complaint but since your IVA is still live and an offer is being made to creditors I personally would wait. Creditors may be delighted to get something after all this time.
The circumstances behind the "rebranding" will be critical because if the IVA company went into liquidation there probably should have been another company who could take over.
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.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Michael Peoples
You could try and speak to the regulators and make a complaint but since your IVA is still live and an offer is being made to creditors I personally would wait. Creditors may be delighted to get something after all this time.
Thanks again for the reply. The company went into administration along with other parts of the company, made 17 redundant, just after having £1m pounds in public money to create jobs in the North West ( Unique Debt Solutions ) who then re-branded as they said in their letter to Lawson Fox. Something doesn't seem to be correct !!
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by lifenoteasy
The circumstances behind the "rebranding" will be critical because if the IVA company went into liquidation there probably should have been another company who could take over.
Unique Debt Solutions went out of business making 17 redundant after receiving £1m in public funding to create jobs in the North West. They became Lawson Fox ( re-branded as the letter said ) with the same Director for Him to carry on as the Insolvency Practitioner. I still dont know why none of my creditors have asked the question, where are the payments they should have received ?? Thanks
Web search suggests same directors, different ltd companies and with Lawson Fox owing 30 times more than it has cash in the bank.
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.
Thanks for the reply.
It is still under Unique Debt Solutions the IP is Gerard Nicholas Ratcliffe. he is the Director of Lawson Fox and was so with Unique.
You need to speak with your IP and perhaps even arrange a face to face meeting. Hopefully creditors will accept the offer and allow you to move on but still worth finding out from your IP what is happening.
Would suggest that the critical thing is not the company name but whether the IP name is still the same.
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.
I can't quite tell from your positing but are you sure the meting called relates to your original settlement offer? It may be that the IP did put it to creditors and they rejected it and your IVA continued in the normal way. The meeting that has been called may not relate to that. I would ask your IP for full details of the meeting. This is important as a termination meeting could mean the failure of your IVA.
font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Lisa Thomas
I can't quite tell from your positing but are you sure the meting called relates to your original settlement offer? It may be that the IP did put it to creditors and they rejected it and your IVA continued in the normal way. The meeting that has been called may not relate to that. I would ask your IP for full details of the meeting. This is important as a termination meeting could mean the failure of your IVA.
Hi, thanks for the reply. I made the offer in Aug 2012. The IVA company went out of business and set up again under a new name. Somewhere between then and no, I went off the radar. I have not paid any money in since 2012. I have spoken to them today and they are going to make the offer, which they didnt do 3 years ago ! Two of the creditors are Building Supply companies, who she said can be very demanding for a full amount. I will have to wait until the meeting in July to see what the out come is . Thanks
Hi Mick - I see. I'm guessing you didn't keep your contributions to one side in the meantime? It may be that this big delay could almost help your f&f proposal as the alternative is probably to terminate the IVA. I would ensure that the report contains an explanation as to why nothing happened for 3 years. You may want to submit your own letter and ask the IP to include that as part of the variation report and stress that you heard nothing back.
