I have finished paying IVA in June. I have recently come into some inheritance

[Sallyd288]

I have finished paying Iva in June I have recently come into some inheritance will I have to pay the total amount that my Iva was or do they deduct what I have already paid in

[Adam Davies]

Hi

If your IVA has not completed then you may well have to pay an amount equal to your original debt, IP fees and possibly satutory interest less payments made.
If your IVA has completed and you have the completion certificate then you should not have to pay anything

Regards

[GilliB]

Hi Sally. Welcome to the forum. Congratulations on completing your IVA. I read Andy's response with interest, and would dearly like to know what is classed as a 'completed IVA these days?'. But for the fact that your company has failed to issue your completion certificate in the 8 months since you complied with the terms of your arrangement, it would have been fully closed, and no threat to your inheritance. If it were me, O would speak to the IP ASAP, as some posters have been allowed to keep windfalls and some haven't - seems to depend on their arbitrary decision-making process. Best of luck to you going forward. x

[plasticdaft]

If you dont have a completion certificate then expect to pay over any windfalls as per the agreement.

Paul

[IVA Victim12345]

I really don't get the complete lack of conformity of behaviour within the IP industry. Although we do seem to have some solid professionals on this forum there are also it seems others out there who are not.

The complete disregard for issuing CCs on time for example can have a catastrophic affect on those receiving windfalls. Similarly late issuing CCs will be detrimental to debtors who would otherwise have been entitled to keeping any missold PPI revenue themselves. Perhaps solicitors in the PPI claims industry will move onto underperforming IPs in due course. Mmm Now there's a thought......

Any news from anyone who has proceeded with formal complaints to the governing bodies?

[slushysnow]

This is all totally wrong and highly unfair
I completed my IVA months ago and as far as I am concerned its finished what I do after is my business and thats the idea when you set out at day 1 you have the end month and you aim for that

If the boot was on the other shoe And I had got to month 59 and could not pay anymore then I dont think I would have been forgotten for 6 months I would have got phone calls the next day

The IVA is over finished finito thats your legal obligation done with thats what you signed for I am sure I never signed Oh just in case PPI is an issue you can block me for a further 6 months

Its not the IVA companies fault either
What should happen is you complete you get your certificate and then any PPI you sign a letter that states they can have what ever they can recover and any extra comes back to you

I dont care what anybody says PPI was known about 2 years ago at least and this messing about is totally wrong and unfair on the people who have struggled along and tried there best and then you get stuck in a queue and its not your fault

[GilliB]

Spot on slushysnow - its an absolute travesty. Some people use the argument that "you always owe 100% of the debt, so returns should be maximised for creditors". Fair enough regarding PPI, but any other windfalls coming in 6,7,8,9,10 months after you have complied... You get the drift?? I'm with Payplan. They had their mass variation meeting over 10 weeks ago. How many people have received their CC's since the meeting?? these companies just don't seem to get the negative impact on our lives and health with these delays, and add insult to injury by not have the common courtesy/appropriate customer service to inform customers of the status of the closure process. We have no voice - who's going to listen to the 'unclean'? We are expected to put up, shut up, and iron out the creases in our sack cloth whilst we wait for them to hand our lives back to us. x

[Skippy]

I think it's disgraceful that people who have complied with the terms of their IVA for 60/72 months are being treated like this. I would like to see someone challenge this but who is going to be able to afford to do this.

[Shining]

I agree with Skippy, if you've conformed to the terms and conditions of the IVA I think it should be finished. Even if they want to claim any missold PPI they can do so but as some companies are issue the completion certificate.

[j109]

I must say my IP was fantastic with my CC I think it is also useful if you pester them to get it done I had mine around 6 Weeks after my final payment

Happy Days.

[Shining]

I agree to stay in contact with them if it goes on for a while after last payment. Ask for estimated dates where possible. Not sure of an average time but I do think 18 months to 2 years is far too long for closure

[geordie123]

This is an absolute disgrace. If you have paid all your payments and are kept waiting for possibly 2 years and beyond for a completion certificate which is also an absolute disgrace then any windfalls received should be allowed to be kept. These companies and GT is the worst offender are just dragging their heels and I for one would fight this all the way. I am very near the 2 year mark since making the last payment and if I inherited any money now I would be made to pay it into the iva. This is not right and something or someone needs to step in and help people like me and many others in this situation. I really have no faith that I will ever receive my certificate.

[Foggy]

Some companies do take the view (GT isn't one of them) that, once all payments have been made (PPI apart) then that is it, even before the CC is issued, as they understand that, but for delays on their part the CC is a formality. Technically, however, the IVA isn't over until that CC is issued.

Personally I agree that, once the last payment has been made, you have complied with all of your responsibilities and should be released from them the day you make that last payment.

[orchid5]

Hi Sally and welcome, which company are you with? I'm with DFD and for all their faults and there are many, i have it in writing via an email that i have now fullfilled my obligations and any windfall, inheritance etc is mine to keep even though i haven't got my CC. The fact that you paid your last payment just over 7 months ago and still not in receipt of your CC isn't down to you so I would ask the question of your IP and see if you could come to some agreement, good luck. xxx

[Foggy]

Might be a useful addition to Philip's list here:

http://www.iva.co.uk/forum/topic.asp?wh ... 466#498628

One stop shop to see who is currently doing what -- with the caveat that things DO change !!