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thisusernameistaken
- Posts: 265
- Joined: Thu Oct 30, 2014 6:46 pm
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I think it's grossly unfair that a CC is delayed and an IVA held 'open' after the final payment is made just because of a PPI investigation.
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Shining
- Posts: 27019
- Joined: Thu Sep 20, 2007 8:57 am
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I agree too, once that final payment and review is completed, completion certificate should be given a time limit to be issued, no more than 2 months and allow the person in the IVA to move forward. Any PPI or any other bits to be completed can be done in the background by way of agreement prior to completion.
A 60/72 month IVA needn't go on an on, we need to begin to live out debt free life we've worked so hard to begin.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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Borneo
- Posts: 135
- Joined: Thu Jun 20, 2013 6:24 pm
- Location: United Kingdom
Yes Lesley this is my point.
Our IVA started in 2006 with Unity where both Eversheds and GT themselves put forward that the arrangement should not exceed 72months. ( 5 year IVA but with equity clause)
We were later transferred to RSM Tenon and completed monthly payments at month 64 due to agreed arrears because of husbands redundancy. We were unable to remortgage and this was accepted by creditors. A final report was being drafted ready for completion when GT took over.
Delay after delay resulted in GT not putting a full and final offer to creditors until month 75,
thankfully accepted by creditors. (In my mind my contract had already expired by 3 months). I must add they did do a good job with this.
We were told it would then take 6 months for the Certificate.
In June (6 months later) I phoned to ask again about the delay and was told I would need to sign for any remaining PPI to be investigated (now at month 81!)
(I should have sent them a copy of my original T&C's pointing out what they themselves had said all that time ago).
We did sign because as you can imagine we were so fed up at this stage.
We received our certificate as promised at month 84!
So you can see why I like others feel so strongly about discharge from contracts terms and conditions as soon as final payments have been accepted. The administration time should mean just that...administration time.
We definitely made the right decision to enter an IVA and life is better now (without any credit), the only debt is the mortgage.
But I must admit receipt of the Completion Certificate did not come with the feeling I was expecting because we were so worn out with it all.
Katy
