I started an IVA in June 2007 with Baines & Ernst and the then Grant Thorn took it over in April 2011. I was made redundant in Feb 2011 and an IVA variation was accepted in Dec 2011 with all payments upto Feb 2011 as final settlement. On 27th April 2012 I had a letter saying it was their intention to close the IVA as all funds had been received. On the 30th July 2012 I had an annual report informing me that all payments are complete and the case is with the closure team and a closure report will follow in due course. I now have had Expert Insolvency Claims ring me on 14th August 2012 to tell me they have a duty to claim any funds from charges etc from the creditors. I told them I didn't have any and that the IVA had finished and was awaiting the closure report. They told me that any money they claimed back would come back to me in this case. Is this just going to delay the Closure Certificate further, I just don't seem to understand where I am with all this. Can any one shed any light. I'm still unemployed and I just want an end to it so I can move on.
I think there are some delays with GT at the moment, there is an expert who comes on here so she may well be able to help, that sounds like a PPI claim firm. Hopefully you should be hearing soon as it can take up to 6 months or more in some cases to be finalised, lets hope not in your case, good luck.
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.
Don't understand this. If you have a claim for overpaid bank charges, that will form an asset of the IVA which will most likely be payable into the IVA - in which case closure may be delayed whilst this is explored.
If EIF are saying that the money will be yours to keep, then they clearly do not believe that any claim would be an asset of the IVA, in which case you case should be able to be closed straight away. Probably best to clarify this with your IP directly.
They say the money will be mine to keep, assuming there may even be some, I doubt it very much, if the IVA is finished, I have had the letters as described. The intention to close letter was given to me to show anybody that I had finished and was just waiting for the closure certificate. It seems to be taking for ever and there always seems to be something to hold it up. They've had the funds, all the creditors have submitted there details, and still I'm waiting
You may have to wait - but at least you would know how long for. A delay in closing a case for this long really does not seem to be justified. Others are seeming to get their cases closed much earlier.
This is the last update I received
"Please be advised the closure process typically takes 6 months to complete. Unfortunately, on occasion this process can take longer as we rely heavily on creditors responding to our correspondence to confirm their claims in the IVA. We aim to ensure all information is accurate and that the correct distributions are being paid to creditors and as a result it can be a lengthy process confirming all claims. Please be advised all of the claims to your IVA have now been received and agreed.
Therefore, although the closure of your case has made considerable progress we still have further administration to complete and your closure documents will be with you in due course. Thank you for your continuing patience in this matter."
I kind of guessed that, but it's like pulling teeth. Waiting is no where near as stressful as being fobbed off and I think I have finally given up. The IVA was easy compared to finishing it!!!
Creditor claims should be agreed in year 1 not year 5. Has your IP firm honestly not distributed any money since the start of the IVA. This is not good enough and you need to press them for a more specific rather than general reply.
By email and phone they seem to say what they like, I can't make them say something they clearly don't want to. I really don't have a clue what's going on now, I just get more and more stressed every time I receive something from them, it was less stressful when I owed all the creditors. As I said I will just have to sit back and take the long wait that is obviously what GT are famous for.
Thanks for all the replies but it's obvious that other people are having the same problem and it's ongoing so I'm never going to be able to change it as no one else seems to have done. Good old GT
